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At 7.25%, California has the highest minimum statewide sales tax rate in the United States, [8] which can total up to 10.75% with local sales taxes included. [9]Sales and use taxes in California (state and local) are collected by the California Department of Tax and Fee Administration, whereas income and franchise taxes are collected by the Franchise Tax Board.
[6] [note 1] As of July 2024, California had the highest minimum wage of any state and was the highest in the country except for some part of New York (which also have a $16/hour minimum wage) and the District of Columbia (which has a minimum wage of $17.50/hour). [9] Despite this, California's minimum wage "lags far behind the state's prices ...
The economy of the State of California is the largest in the United States, with a $4.080 trillion gross state product (GSP) as of 2024. [1] It is the largest sub-national economy in the world. If California were a nation it would rank in terms of nominal GDP as the List of countries by GDP World's fourth largest economy, behind Germany ( 4.71 ...
A separate report from the Labor Department showed initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted 242,000 for the week ended Dec. 7. Economists had ...
Markup (or price spread) is the difference between the selling price of a good or service and its cost.It is often expressed as a percentage over the cost. A markup is added into the total cost incurred by the producer of a good or service in order to cover the costs of doing business and create a profit.
U.S. employers added 227,000 jobs last month, a rebound from a hurricane-impacted slowdown in October, but the unemployment rate ticked back up to 4.2%, the Labor Department's monthly read on the ...
Before the Fed’s decision, bond market traders were pricing in 58% odds of a 50 basis point rate cut, and 42% odds of a 25 basis point rate cut, according to CME Group’s FedWatch Tool.
As of June 1, 2007 counties and some cities may impose an additional 1% to 3% sales tax. As of mid-2005, 35 of 46 counties do so. Restaurants may also charge an extra 1-2% tax on prepared food (fast food or take-out) in some places. The state's sales tax on unprepared food disappeared completely November 1, 2007.