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URL:  http://boards.fool.com/cd-interest-5100-ca-tax-on-interest-5100093-25059800.aspx

Subject:  Re: on the fence Date:  1/19/2007  10:13 AM
Author:  jrr7 Number:  19458 of 36400

CD interest = 5100
CA tax on interest = 5100*.093 = 474.30
US tax on interest = (5100-474.3)*.28=1295.20
after tax from CD= 5100-474.30-1295.2 = 3330.5


Don't you deduct your California taxes on your Federal return? If so that would mean you have an additional 474.30*.28=132.80
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