California approves use tax table for 2011

The California State Board of Equalization voted today to approve the use tax table to be used for 2011 tax returns. Senate Bill 86 (Ch. 11-14) allows taxpayers to report use tax for single nonbusiness purchases of $1,000 or less each on their 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 today 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)