Proposition 30 increases: Updated 2012 Tax Tables for Proposition 30 Tax Increases.

• Position: FTBnews

The FIB updated the 2012 tax rate schedules to reflect tax increases due to the passage of Proposition 30. Among other things, Proposition 30 raises the personal income tax rate on individuals making more than $250,000 per year for the next seven years. The income tax changes apply retroactively to all income earned or received since Jan. 1, 2012. The law waives the underpayment of...