Tax refunds in the form of IOUs?!

It's a very real possibility. Good thing it's only the state...for now! Can you imagine what this country would do if it gave out IOUs for its refund this year? We'd have riots!!!

I'm finally not having to pay. I'd definitely go bonkers on someone.

Fortunately (or unfortunately) I usually end up paying some state taxes (thank you California for having such ridiculous taxes). Maybe I should write an IOU for what I owe the state.

Well, you can always select the option where whatever refund you have this year gets applied to next year's taxes. Then the state can write the IOU to itself!

California taxes baffle me. They are so ridiculously low yet there is this humongoid deficit and no possibility of ever getting a realistic budget passed. Yet they don't raise taxes to help pay for some of this stuff. How can you run this massive state without revenue??

Is there some reason why they don't raise them that I'm not aware of?

<----wants ^^^ tax rate.

we have a fairly massive state here with no state income tax

California ranks 11th in the US in state tax revenues per capita and 15th in state tax revenues as a percentage of personal income. I guess BoatnShasta wants to be #1!!! (Alaska is #1 - my guess is due to royalties that count as revenue spread over a relatively small population; Hawaii is #2, Vermont #3.)

California has the highest sales tax rate, the highest gasoline tax, and the 6th highest income tax rate. I don't see anything "ridiculously low" in there.

The major problem is spending. The public employee unions have sweetheart deals which are killing us, and we spend tons of money on illegal aliens who do not contribute to the tax revenue anywhere near what citizens and legal residents do.

I think sales tax in Los Angeles County is soon going to be just over 10%. **sigh**

wow that is baad

Didn't Chi-town just go to 10% as well?

Careful califgirl, you don't want to get flamed by people claiming that this country would come to a grinding halt if not for the illegal aliens!

Let them flame away, GD! Considering the circumstances we are in now, I think it would be worth a try!

How does that special property tax rule you all have affect revenue collections? Is it still worthwhile, or past its useful life?

Prop 13 is about the only way that middle income families and senior citizens can afford to stay in their homes. The California real estate market fluctuates so wildly that if the taxes were based on the "market" value, a senior on a fixed income could see his or her property tax bill increase 3 times in less than a year.

I still remember when Prop 13 first passed because my folks were not sure we could afford the property taxes to continue to live in our house.

Property taxes still go up by a certain percentage each year, and then there are all sorts of "special" assessments that get added to the bill.

I'm going to rant now:

It TICKS me off that we work hard, we pay our taxes every time we get paid, we file our tax return early to beat the rush, and the state HOLDS UP OUR REFUNDS! That is a bunch of XXXX!!! I looked up the information for my refund this afternoon and here is the message that I get:

Your return has been received and processed, however, your refund cannot be issued at this time.

Due to the state’s persistent cash and budget problems, the State Controller has directed FTB to stop sending refund requests to the State Controller’s Office for payment. Refund payments will resume when the State Controller indicates there is enough cash available to make refund payments.

What if they don't have enough cash available? HOW STUPID!

Okay, rant over. Thank you for listening!

wouldn't this information require any bonds from the state of California to be rated "junk" ?

I just heard on the radio that the governor of the Great State of California has asked the State Controller to defer all payments for the next seven months. No tax refunds, no payments of any kind. Please someone explain to me how this will help? If payments are deferred they still have to be paid. I don't understand and I want, and really need, my refund!

cash flow.

Texas has got it right - no state income tax. Just pay your property tax on your house and you are done.

I am flabergasted that Boatn Shasta thinks ANY tax should be raised. If you hve too much money, you are welcome to send it to me. Governments should cut spending, not increase taxes.

So what does a license plate renewals and other such items cost you in Texas? Elsewhere in states w/o income taxes?

It's $75 here

It's like $50 every two years here in NY.

where is here?