4/2015: Personal Income Tax Far Above Projections May 8, 2015

This post provides updated data from the tax agencies on monthly agency cash collections of California's key state taxes.


Corporation Tax Collections Above Projections in April May 1, 2015

April is a major corporate tax collection month. Here, we discuss April 2015 collection trends for the state's third-largest General Fund revenue source.


3/2015: Revenues $1.3 Billion Above Fiscal Year Projection April 15, 2015

This note provides information on March 2015 state tax collections.


Corporate Profits Decline in 2014 March 27, 2015

Corporate profits data released today by the Bureau of Economic Analysis show an annual decline of $17 billion, or less than 1 percent.


February 2015 Income Taxes Far Above Forecast March 17, 2015

This post discusses February 2015 personal income, sales, and corporate income tax collections (the General Fund's "Big Three" tax sources).


New College Access Tax Credit Affects Budget Revenue Projections February 27, 2015

This note discusses the complex effects on state budget revenue projections related to the new College Access Tax Credit.


State Bond Documents: Tax Litigation Disclosures February 26, 2015

The state's preliminary official statements for bond offerings, such as the planned March 4 general obligation bond sale, contain significant information about the state's finances, including litigation related to state revenues and spending.


California State Tax Expenditures Total Around $55 Billion February 19, 2015

In response to questions received during a January Senate budget hearing, we examine California's General Fund tax expenditures: tax deductions, credits, exclusions, and the like that reduce revenues below what they would be otherwise.


Jan. 2015 General Fund Revenue Collections February 18, 2015

We provide preliminary data concerning January 2015 California income and sales tax collections (the state General Fund's "Big Three" tax revenue sources).


FTB December 2014 Revenue Exhibits Posted January 28, 2015

The Franchise Tax Board's twice-yearly revenue exhibits are highly technical, but include key information for those who track and forecast California's state income tax revenues.


December Income Taxes Far Above June Budget Act Projections January 8, 2015

The preliminary December 2014 income tax totals increase the chances that General Fund revenues in 2014-15 will be billions of dollars above what our office projected a few weeks ago.


14-15 State Revenues $1.6 Billion Over Budget Forecast as of 11/30 December 16, 2014

The Department of Finance's Finance Bulletin, today's version of which includes November 2014 revenue data, is the key report on state revenues each month.


California Governments Rely on a Variety of Taxes December 16, 2014

The state government and local governments, respectively, rely on different tax revenue sources.


Corporation Tax Liability As Percent of Profits Has Declined December 10, 2014

Using various provisions of state tax law, such as tax credits, corporations may reduce their tax liability. These tax law provisions have led to corporations' effective state tax rate falling in recent years.


Personal Income Tax Is State's Dominant General Fund Revenue December 9, 2014

Over the past several decades, the personal income tax has replaced the sales tax as the main source of the state's General Fund revenue.