Personal income taxes: additional tax.

The Personal Income Tax Law and California Constitution impose taxes based upon taxable income of individuals, estates, and trusts at specified rates. This bill, for taxable years beginning on or after January 1, 2021, in addition to those taxes, would impose an additional tax of at the rates of 1%, 3%, and 3.5% on that portion of a taxpayer's taxable income over specified thresholds, as provided. This bill would include a change in state statute that would result in a taxpayer paying a higher tax within the meaning of Section 3 of Article XIIIA of the California Constitution, and thus would require for passage the approval of 23 of the membership of each house of the Legislature. This bill would take effect immediately as a tax levy.