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View Diary: Poor Mickelson: "Regrets his comments" (135 comments)

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  •  skohayes - it will have a hugh influence (1+ / 0-)
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    From the two tax returns he released we can see that his annual income is about $20 million, most from capital gains which are taxed as income for both federal and state purposes. California treats capital gains the same as earned income so we would have to pay 13.3% nearly doubling his most recent tax rate. His federal rate on capital gains will increase to 24%, up from 15%. New Hampshire does not tax capital gains, but if he was a tax resident of California his total tax on his capital gains could be as high as 37%. I would be shocked if he didn't pick NH as his tax residence.

    "let's talk about that"

    by VClib on Wed Jan 23, 2013 at 07:24:51 AM PST

    [ Parent ]

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