California (Incentive Stock Option)
| 1998 | 1999 | |
|---|---|---|
| Wages | 100,000 | 100,000) |
| Long-term capital gain | 0 | 249,000) |
| Adjusted gross income | 100,000 | 349,000) |
| Other taxes | 2,200 | 2,200) |
| Residential mortgage interest | 10,000 | 10,000) |
| Less deductions phased out | 0 | (9,760)) |
| Itemized deductions | 12,200 | 2,440) |
| Standard deduction | 2,642) | |
| Taxable income | 87,800 | 346,358) |
| Regular tax | 6,517 | 30,563) |
| Minimum tax credit | 0 | (12,946) |
| Alternative minimum tax | 12,946 | 0) |
| Total California tax | 19,463 | 17,617) |