2024 California Tax Brackets For Trusts And Trusts

2024 California Tax Brackets For Trusts And Trusts. But a new law says these trusts must pay california tax. As a result, california grantor trusts can now include discretionary income tax reimbursement powers, potentially making them more attractive for estate planning.

The below state tax rates and brackets from the california franchise tax board (ftb) apply to income you earned in 2024 (reported on your 2024 tax return). What the taxes on trust funds are for 2023;