For tax purposes, in California, SUI stands for State Unemployment Insurance and SDI stands for State Disability insurance, according to the State of California Employment Development Department. In 2014, the CA SUI tax rate is Schedule F+. Employers are taxed between 1.5 percent and 6.2 percent on each employee's income up to $7,000. The 2014 CA SDI tax rate is 1 percent on income up to $101,636; the maximum withholding is $1,016.36 per employee.Know More
Symmetry Software's Payroll Taxes website notes that the CA SUI tax rate does not include a mandatory Employee Training Fund contribution of 0.10 percent of up to $7,000 of income per employee. According to the State of California Employment Development Department, new employers for 2014 are assigned a 3.4 percent SUI tax rate for two to three years. The exception is if someone purchases an existing business with employees. In that case, the new owner may elect to retain the previous owner's SUI tax rate.
Wikipedia notes that the California SDI program has been in place since 1946 and pays employees who are temporarily disabled a weekly benefit amount equal to 55 percent of their average weekly pay. SDI benefits are only available to employees who paid SDI taxes or have self-employment coverage. For an employee to receive SUI benefits, the person must be unemployed through no fault of his own and meet minimum wage and weekly eligibility requirements, according to the State of California Employment Development Department.Learn more about Taxes
A taxpayer identification number, or TIN, is used by the Internal Revenue Service to track individuals and entities for tax purposes, and an employer identification number, or EIN, is one form of a TIN. Many people confuse a TIN with an individual taxpayer identification number, or ITIN, which is also a form of a TIN.Full Answer >
FTB 3522 is the Limited Liability Company Tax Voucher, a tax form required of limited liability companies (LLCs) in California. As the Franchise Tax Board explains, LLCs and corporations in California are required to pay an annual minimum franchise tax of $800. LLCs use form 3522 to make this payment.Full Answer >
Homeowners in California may have to pay deed tax and/or capital gains tax in a financial situation involving a deed in lieu of foreclosure, according to the Law Office of Linda C. Garrett. Homeowners may be able to use various state mortgage relief acts to obviate income taxes on canceled debt.Full Answer >
California uses a progressive income tax system for single and married taxpayers, with nine tax rates ranging from 1 percent to 12.3 percent, as of 2014. The income tax rates are fixed at 8.84 percent for nonbanking corporations and 10.84 percent for financial institutions.Full Answer >