5. Jason is a California resident who lives and works as a computer consultant in Walnut Creek. He earned $75,000 while working for XYZ LTD in 2017. Jason additionally had a contract job from ABC Co. based in Washington. His contract earnings totaled $17,000 in 2017 and will total $15,000 in 2018. On what income amount will Jason be taxed in 2017?
A. $75,000 B. $83,500 C. $90,000 D. $92,000
6. California law specifically provides that an individual whose
permanent home is in California, but who is absent from the state
for an uninterrupted period of at least how many days under an
employment-related contract, will not be treated as a resident
subject to California tax?
A. 500 days B. 546 days C. 600 days D. 650 days
5. A Individual who is resident of California have to pay taxes on all the income earned whether in same state or out of state, hence Jason has to pay taxes on $92000 ( $75000+$17000)
Hence Answer is D. $92,000.
6. Individual whose home is in California will not be treated as resident of California if he stays out of state for 546 Days or more.
Hence Answer is B. 546 Days
5. Jason is a California resident who lives and works as a computer consultant in Walnut...
Tax Review 1. Regarding the California Earned Income Tax Credit (CA EITC), earned income used to qualify for the credit includes all of the following except: A. Employee compensation subject to California withholding B. Passive Activity Income C. Wages reported on a W-2 Form D. Tips reported on a W-2 From 2. For 2017, the Nonrefundable Renter’s Credit is available for single filers with adjusted gross incomes of what amount or less? A. $37,000 B. $37,995 C. $40,078 D. $80,156...