24 days ago
SACRAMENTO, CA- If you work in California, get ready for less of a paycheck starting on Nov. 1.
It's far from a post-Halloween gag. Soon, a little known part of last summer's legeslative budget deal will take effect, that will increase a withholding tax between now and next April.
The amount of state income taxes withheld from paychecks will increase 10 percent next week.
For someone making about $20,000 dollars per year, state withholding is only about $8. A 10 percent increase will push that up by about $1. Those making upward of $75,000 could see an additional $16 in witholding.
"It's a short term fix to a long-term problem with no guarantee it will work, " said Sacramento CPA Dawn Cornelius.
For state workers, it's a tough sell.
"We've seen furloughs and pay cuts. This is just one more thing that nobody really likes to see, " said state worker Roberta Schueler.
News10/KXTV
