E-Alert
August 10, 2011
Board of Equalization Approves Use Tax Table for 2011
A recent law change allows taxpayers to report use tax for single nonbusiness purchases of $1,000 or less each on their 2011 FTB return using either:
- The actual amount of tax due; or
-
The amount shown on a lookup table, which would indicate an estimated amount of use tax due based on the person's AGI.
The table approved provides as follows:
Adjusted Gross Income Range |
Use Tax Liability |
Less than $20,000 |
$7 |
$20,000 - $39,999 |
$21 |
$40,000 - $59,999 |
$35 |
$60,000 - $79,999 |
$49 |
$80,000 - $99,999 |
$63 |
$100,000 - $149,999 |
$88 |
$150,000 - $199,999 |
$123 |
More than $199,999 |
Multiply AGI by 0.07% (0.0007) |
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If you have any questions regarding this issue, please contact the DZH Phillips Tax Department at (415) 781-2500 or email cpas@dzhphillips.com.
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