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To: Tribune7
I'm trying to keep this simple. On a $60,000 income, single, no dependants, Canadian Fed tax is $10,986. US Federal tax on the same amount (60k) is $11,070. Then in Canada you can add a Provincial income tax and in the US a State and in some cases a city income tax (please correct me if I'm wrong).

The other example I have is :For $75,000 in local currency,

Calgary versus Chicago:

http://www.treas.gov.ab.ca/calc-script/tax_calc.html

CA: $13,629 AB: $5973 CPP & EI: $2374

$21,976

http://moneycentral.msn.com/investor/calcs/n_tax/main.asp

US: $15,699 IL: $2250 FICA: $5737.50

$23686.50

66 posted on 04/25/2002 3:24:02 PM PDT by Snowyman
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To: Snowyman
I'm trying to keep this simple. On a $60,000 income, single, no dependants, Canadian Fed tax is $10,986. US Federal tax on the same amount (60k) is $11,070. Then in Canada you can add a Provincial income tax and in the US a State and in some cases a city income tax (please correct me if I'm wrong).

It depends on the state and it depends on the city. In Pa. there is a state income tax of 2.8 percent. In Fla., it is zero. Philadelphia has a wage tax of 3.9 percent. It is basically zero in the suburbs.

It is my understanding that the total tax burden in Canada including (especially) the sales tax, is much higher than in the U.S. I'm not arguing just curious.

69 posted on 04/25/2002 5:06:59 PM PDT by Tribune7
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