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How much does Walmart pay in California?

As a resident of Washington doing business in California, do I have to pay California capital gains taxes?

  • I am a legal resident of Washington but am selling some cars in California. I pay no state taxes on short term capital gains here in Washington, but California taxes its citizens at the rate of ordinary income: 9.3 %. Will I owe California state income taxes? Or, as a resident of Washington, do I not owe California anything?

  • Answer:

    California Revenue and Taxation (Rev. & Tax.) Code section 17041, subdivision (b), provides that for each taxable year there shall be imposed upon the taxable income of every nonresident or part-year resident a tax on the income received from sources in California. Sorry for the bad news!

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California sucks when it comes to businesses taxes. If you do any business in the state whatsoever, they'll come after you for taxes. I started a Nevada LLC for tax purposes, but since I live in CA, they came after me for an $800+ tax. The FTB website says this is a tax for "the privilege of doing business in California." I'd advise doing business in another state.

JC

CA has capital gains taxation as well as ordinary income taxation. You are at the highest tier at 9.3%. In order for your tax liability to be at the 9.3% level your CA taxable income is in excess of $47,000 if you are single or married filing separately. Your taxable income is in excess of $94,000 if you are married filing jointly. Any less CA taxable income and you are in a lower tax bracket. CA, as in many other states, require that you pay taxes on income earned in their state.

Ron

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