California Tax Brackets 2024 2024 Olympics

California Tax Brackets 2024 2024 Olympics. Proposition 32 proposes an increase in the statewide minimum wage to $18 an hour. Some high earners in california might feel some tax relief where federal taxes are concerned, though, likely not nearly enough.

These updated brackets will be used to tax 2024 income and to withhold 2025 income. In all, there are nine official income tax brackets in california, with rates ranging from as low as 1% up to 12.3%.