Where do you get 11% state tax from? Every California state income tax calculator I've seen for $150k-200k puts it at around 7.4% - 8% (sliding scale due to how California state taxes work).
Not the lowest taxes still, but I'm bewildered as to where does some of this myth of the 10+% state income tax comes from.
Presumably he says 11% because the tax bracket for California incomes for $300K to $500K is 11.3%, and because he assume this is how much a surgeon in San Francisco makes. This does ignore the brackets, but he does note that he's discussing the marginal rate: https://www.ftb.ca.gov/forms/2015_California_Tax_Rates_and_E...
At a glance, this seems like a very reasonable estimate:
How much does a Surgeon in San Francisco, CA make?
The median annual Surgeon salary in San Francisco, CA is
$435,890, as of February 22, 2016, with a range usually
between $368,625-$517,331 not including bonus and benefit
information and other factors that impact base pay."
I was just using it as an example where the effective rate ends up nowhere near the rates people temd to talk about - I've seen a lot of prior talk about state taxes for engineers mentioning rates like that too, and did a quick lookup on online income tax calculators to make the point that effective state income tax rates in California are not as straightforward as looking up a % and quoting it.
Not the lowest taxes still, but I'm bewildered as to where does some of this myth of the 10+% state income tax comes from.