California (Non-Qualified Stock Option)

1998 1999
Wages 100,000) 100,000)
Additional compensation
from non-qualified option 199,000)
Long-term capital gain            0)   50,000)
Adjusted gross income 299,000) 150,000)
Other taxes 2,200) 2,200)
Residential mortgage interest 10,000) 10,000)
Less deductions phased out   (9,760)   (2,150)
Itemized deductions     2,440)   10,050)
Standard deduction     2,583)            0)
Taxable income 296,417) 139,950)
Regular tax 25,955) 11,403)
Exemption credit             0)     (132)
Total California tax   25,955)   11,271)

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