California Economy and Taxes
 
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Thumbnail for U.S. Retail Sales Update: December 2021

U.S. Retail Sales Update: December 2021 January 14, 2022

U.S. retail sales (seasonally adjusted) dropped 1.9 percent from November to December. Nonetheless, sales remained 17 percent above last December. 

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U.S. Retail Sales Update: November 2021 December 15, 2021

U.S. retail sales (seasonally adjusted) grew 0.3 percent from October to November. Retail sales have been elevated throughout 2021 following dramatic growth in January and March. 

Thumbnail for Income Tax Withholding Tracker: November 1 - November 30

Income Tax Withholding Tracker: November 1 - November 30 November 30, 2021

California income tax withholding collections in November were up nearly a third over last November.

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Home Sales Update: October 2021 November 30, 2021

The pace of California home sales is slowing, although it remains high by historical standards.

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Cannabis Tax Revenue Update November 30, 2021

Preliminary cannabis tax revenue for 1st quarter of 2021-22: $211 million.

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October 2021 Jobs Report November 19, 2021

California employers added 96,800 net jobs in October, the highest monthly figure since July.

Thumbnail for California New Business Creation: October 2021

California New Business Creation: October 2021 November 19, 2021

The pace of new business creation in the state remains slower than in 2020 but faster than in most previous years.

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Home Price Update: October 2021 November 18, 2021

California home price growth slowed sharply in October, but is still up 21 percent over the past 12 months.

Thumbnail for 2022-23 Fiscal Outlook Revenue Estimates

2022-23 Fiscal Outlook Revenue Estimates November 17, 2021

We discuss the revenue estimates in our recently released Fiscal Outlook. 

Thumbnail for U.S. Retail Sales Update: October 2021

U.S. Retail Sales Update: October 2021 November 16, 2021

U.S. retail sales (seasonally adjusted) grew 1.7 percent from September to October. Retail sales remain elevated due to dramatic growth in January and March. 

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California Venture Capital Funding, 3rd Quarter 2021 November 5, 2021

California firms raised $34.4 billion from venture capital funds in the third quarter, a new series record.

Thumbnail for Income Tax Withholding Tracker: October 1 - October 31

Income Tax Withholding Tracker: October 1 - October 31 November 3, 2021

California income tax withholding in October was up 8.2 percent over October 2020, a slower growth rate than in the three previous months.

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Building Permits Update: September 2021 November 1, 2021

California builders recorded 8,254 permits in September, the lowest figure since February.

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September 2021 Jobs Report October 22, 2021

California employers added an estimated net 47,400 jobs in September, the smallest monthly gain since January.

Thumbnail for 2021-22 “Big Three” Revenue Outlook Update: October 2021

2021-22 “Big Three” Revenue Outlook Update: October 2021 October 22, 2021

Based on the most recent revenue and economic data, we currently project that there is a good chance that collections from the state’s “big three” taxes will exceed the budget act assumption of $170 billion in 2021-22 by at least several billion dollars.