Show HERES HOW TO FIGURE YOUR STATE INCOME TAX here s hov to figure out our income tax un 10 the i ew state bill pas ca bi the legislature friday after the exemptions of 1000 for a single person 2000 for a married couple and tor each dependent the act will tax net taxable income as follows on the first 1000 1 per cent on the next 1000 1 14 1 4 per cent on the next 12 1 2 per cent on the next 1000 1 34 3 4 per rent on the next 1000 2 per cent on the next 1000 2 12 1 2 per cent on the next 1000 3 per cent on the next 1000 S 12 1 2 per cent on the next 1000 and all above that amount 4 per cent for illustration it a married man with two children has a net income of he will be exempted on 2800 and therefore will pay on 1200 the first 1000 will cost him 10 and the next will cost him 2 50 making a total tax of 12 50 now it this man pays 21 tangible property tax he will have an offset of 33 13 1 3 per cent it or 7 which will make his final income tax 5 50 now figure out your own |