Your Paycheck Just Got Lighter
Posted on | November 3, 2009 | No Comments
As of November 1st 2009, employers began withholding 10 percent more in state income taxes from your paycheck.
We can thank in part, Gov Schwarzenegger and State Senator Dave Cogdill for our new lighter paychecks. Both gentlemen went along with the Democratic Legislature in a $14 billion dollar tax increasing budget deal last February.
For doing so, Cogdill was promptly removed as GOP Senate Minority leader. The tax happy Republican Senator from Modesto continues to represent Tuolumne County.
According to the California Franchise Tax Board, the state will return the extra money removed from your paycheck, after you file your tax return. The stepped up withholding remains in effect indefinitely.
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