Federal (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) |
| State/local income tax | 25,955) | 11,271) |
| Other taxes | 2,200) | 2,200) |
| Residential mortgage interest | 10,000) | 10,000) |
| Less deductions phased out | (5,235) | (765) |
| Itemized deductions | 32,920) | 22,706) |
| Personal exemptions | 0) | 2,106) |
| Taxable income | 266,080) | 125,188) |
| Regular tax | 84,246) | 28,171) |