We examine historical patterns of financial markets to gauge the range of possible outcomes for capital gains revenue in 2018-19 and beyond.
We examine historical patterns of financial markets to gauge the range of possible outcomes for capital gains revenue in 2018-19 and 2019-20.
We provide additional detail on several key revenue issues in the May Revision, including administration estimates of capital gains and Proposition 30 revenues.
We discuss our updated state revenue outlook, released as part of our response to the Governor's 2017 May Revision.
We discuss our new economic outlook, released as part of our response to the Governor's 2017 May Revision.
We display the administration's estimates for this revenue source as of January 2017.
We discuss the administration's 2016 May Revision capital gains estimates, as well as our office's.
We display the administration's Proposition 30 revenue estimates, as of the 2016 May Revision, as well as our office's estimates.
This post compares the administration's multi-year forecast revenue estimates with those generated under the LAO May 2016 economic growth scenario through 2019-20. (This does not reflect required transfers to the Budget Stabilization Account under Proposition 2 under the LAO figures, as those estimates are still under development.)
We answer some questions we receive about California's budget and the stock market downturn of recent days.
We discuss 2014 personal income tax data from both our May Revision revenue estimates and those of the administration.
Our office's May Revision revenue outlook anticipates billions of dollars of additional revenues in 2015-16, compared to the administration's updated projections.
The Franchise Tax Board has posted its spring "exhibit" data, which contains information used by our office and the administration to understand state income tax collections.
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.
Proposition 2, passed by voters in November 2014, includes provisions intended to help manage state budget revenue volatility, principally by requiring certain state revenues to be deposited in budget reserves.