I was wondering the penalty for not having health insurance in CA for the year 2020 is 2.5% of your annual income or $695 per adult. I was wondering is the 2.5% before (gross) or after taxes are calculated?
I really don't want to be rude here, but if the answer provided is not complete please make it complete. For example.
Incomplete answer: it depends if you drive a Ferrari to the hospital?
Complete answer: If you drive a Ferrari then it is gross. But if you drive a hybrid it will be after taxes.
Thanks!
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The penalty could be 2.5 percent of household income (gross) or $696 per adult (this number will rise every year with inflation), whichever amount is larger.
https://www.ftb.ca.gov/about-ftb/newsroom/news-articles/health-care-mandate.html
Have you checked the CA FTB website? I found this
https://www.ftb.ca.gov/about-ftb/newsroom/news-articles/health-care-mandate.html?WT.ac=HealthMandate
Didnt see anything about the 2.5%.
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