Details

Type: Publication series
Date: 11/16/2012

United States – California Voters Approve Retroactive Tax Increase

On November 6, 2012, voters in California approved Proposition 30, which retroactively raised income tax rates for 2012 by creating three new tax brackets for those with state taxable income over USD 250,000 (USD 500,000 for a married couple filing jointly). The new tax brackets will remain in place for seven years. In addition, Proposition 30 increased the state sales tax rate to 7.5 percent, effective beginning in 2013 for four years.

Download PDF of Flash International Executive Alert:

United States: California Voters Approve Retroactive Tax Increase (PDF)

Subscribe to receive Flash International Executive Alert in your inbox

Subscribe now

Flash Alerts Region list

To view Flash Alerts by country, click on a region. In the country list on the right, click on a country name.

Flash Alert home

Global Mobility home

© 2013 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.