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The state called the handout a Middle Class Tax Refund, although truth be told, it wasn't a refund — it was a grant from the state's erstwhile budget surplus, ostensibly to offset the high price ...
Considering state taxes only, paying taxes on $300,000 of taxable income (adjusted gross income) would leave a single taxpayer or married taxpayer filing separately with $275,447.15. $300,000 is ...
Chiang announced in August 2009 that the IOU program would end the next month and that California would pay off 327,000 IOUs worth almost $2 billion (~$2.76 billion in 2023). The budget crisis led to cutbacks and many layoffs at state universities in California.
Here’s a more familiar example of the volatility: In the 2022 tax year, during a bear market on Wall Street, the top 1% of California earners paid 38.7% of the state personal income tax.
IOU. An IOU ( abbreviated from the phrase " I owe you " [1] [2]) is usually an informal document acknowledging debt. An IOU differs from a promissory note in that an IOU is not a negotiable instrument and does not specify repayment terms such as the time of repayment. IOUs usually specify the debtor, the amount owed, and sometimes the creditor.
The Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU). The company is headquartered at 300 Lakeside Drive, in Oakland, California.PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines.
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