Taxes

City of Merced - Tax Profile
Tax	Basis	Rate	Agency
Business License	Consumer Price Index or Gross Receipts	Flat Rate based on type of business	City of Merced Finance Dept. 209-388-7900
Transient Occupancy	Taxable rents	10%	City of Merced Finance Dept. 209-388-7900
Utility	None	None	City of Merced Finance Dept. 209-388-7900
Property	Assessed value	1%	County of Merced Assessor's Office 209-385-7631
Source: Merced Finance Department (www.cityofmerced.org/depts/finance/default.asp), Merced County Assessor's Office(www.co.merced.ca.us/index.aspx?NID=59) (October 2011)

State of California - Tax Profile
Tax	Basis	Rate	Agency
Corporate Income and Franchise Tax	Net Income apportioned to California	Corporate-8.84% S-Corps-1.5% Bank/Financial Corp-10.84% S-Bank/Financial S-Corp-3.5%	Franchise Tax Board
Sales and Use Tax	Receipts from sale or lease of taxable items	7.75%	Board of Equalization
Personal Income Tax	Taxable personal income	1.0% to 9.55%	Franchise Tax Board
Unemployment Insurance	First $7,000 of wages per employee per year	3.4% to 6.2%	Employment Development Department
Workers' Compensation Insurance	Payroll and occupation	Variable depending on occupation classification	Department of Industrial Relations
Disability Insurance	First $93,316 of wages	1.2% (paid by employee)	Employment Development Department
Employment Training Tax	First $7,000 of wages per employee per year	0.1%	Employment Development Department
Finished Goods, Raw Material, Inventory Tax	None	None	None
Mineral Severance Tax	None	None	None
Inheritance Tax	None	None	None
Source: California Employment Development Department, 2011 California Employer's Guide (DE-44) (www.edd.ca.gov/employer.asp); California Franchise Tax Board (www.ftb.ca.gov); California Department of Industrial Relations (www.dir.ca.gov/) (October 2011)

Inventing California's Future