Originally Posted by
CX500T
Now for VA. Per the books, the first $18k is tax free but they've been trying to impute disability as income, I'm currently fighting them on two years of this.
Tax = AGI -$18,000 * 5.85%
($477,600-$18,000)*.0585 = $26,886.60
that's 5.63% effective tax rate.
Messed up VA math going off memory. Thought it was tax free under 18k, nope just lower rate on first 17k.
It's 5.75% on anything over $17k, plus $720 for the inccome under 17.
5.696% effective tax rate in VA.
$477,600-17,000 = 460,600 * .0575 = $26484.5
add $720
$27204.5 / 477,600 = .05696