California Tax Rates 2017

Corporate tax rates

Individual tax rates

• The maximum rate for individuals is 12.3%

• The AMT rate for individuals is 7%

• The Mental Health Services Tax Rate is 1% for taxable income in excess of $1,000,000.

Exemption credits

Phaseout of exemption credits

Higher-income taxpayers' exemption credits are reduced as follows:

When applying the phaseout amount, apply the $6/$12 amount to each exemption credit, but do not reduce the credit below zero. If a personal exemption credit is less than the phaseout amount, do not apply the excess against a dependent exemption credit.

Standard deductions

The standard deduction amounts for:

Reduction in itemized deductions

Itemized deductions must be reduced by the lesser of 6% of the excess of the taxpayer's federal AGI over the threshold amount or 80% of the amount of itemized deductions otherwise allowed for the taxable year.

Schedule X — Single or married/RDP filing separately

Schedule Y — Married/RDP filing jointly, or qualifying widow(er) with dependent child

Schedule Z — Head of household

* If you turn 65 on January 1, 2017, you are considered to be age 65 at the end of 2016.