CA trust tax brackets:
This is broken down as follows:
2023 Tax Rate Schedule
|
If the amount on Form 541, line 20a is:
|
|
over –
|
but not over –
|
Enter on line 21a:
|
of the amount over –
|
|
$0
|
$10,412
|
$0.00 + 1.00%
|
$0
|
|
10,412
|
24,684
|
104.12 + 2.00%
|
10,412
|
|
24,684
|
38,959
|
389,56 + 4.00%
|
24,684
|
|
38,959
|
54,081
|
960,56 + 6.00%
|
38,959
|
|
54,081
|
68,350
|
1,867.88 + 8.00%
|
54,081
|
|
68,350
|
349,137
|
3,009.40 + 9.30%
|
68,350
|
|
349,137
|
418,961
|
29,122.59 + 10.30%
|
349,137
|
|
418,961
|
698,271
|
36,314.46 + 11.30%
|
418,961
|
|
698,271
|
AND OVER
|
67,876.49+ 12.30%
|
698,271
|
Although irrevocable trusts distribute income to beneficiaries, it is responsible for paying capital gains taxes.
@derric
[Edited 2/21/2024 | 2:37PM PST]
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