Hi,
I am new to 401k.
If I enroll in 401, does it reduce only
Federal tax liability, or CA state tax liability as well.
How can I compute what tax I will save if I put 3000
In 401k. Any helpful sites/ calculators?
Regards,
JKG

The 401K contribution reduces BOTH the federal and the CA income tax.

How much you save will depend on your overall tax bracket.