California Economy and Taxes
 
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Thumbnail for Income Tax Withholding Tracker: September 1 - September 24

Income Tax Withholding Tracker: September 1 - September 24 September 24, 2021

The California income tax withholding surge continues, as September collections to date are 23.5 percent above last September.

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August 2021 State Tax Collections September 20, 2021

Through the first two months of the 2021-22 fiscal year, collections from the state’s three largest taxes are running 20 percent ($3.6 billion) ahead of budget projections. 

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2021-22 “Big Three” Revenue Outlook Update: September 2021 September 20, 2021

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

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A New Method For Current Year Revenue Forecasting September 20, 2021

We discuss our new model which provides a monthly update of our forecast of current year collections from the state’s “big three” taxes. 

Thumbnail for Income Tax Withholding Tracker: August 1 - August 27

Income Tax Withholding Tracker: August 1 - August 27 September 7, 2021

California income tax withholding remained very strong in August, coming in nearly 20 percent above August 2020.

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How Long Do Firms Take from Founding to IPO? August 18, 2021

It's most common for a larger firm to go public 8 to 10 years from its founding date.

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Income Tax Withholding Tracker: July 1 - July 23 July 23, 2021

Income tax withholding from July 1 to July 23 was 17.8 percent above the same dates in 2020.

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Income Tax Withholding Tracker: June 1-June 25 June 25, 2021

California income tax withholding continues to surge, as June collections to date are nearly 25 percent above last June.

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Examining California's Income Tax Withholding Growth by Sector June 9, 2021

The state's surprisingly strong growth in income tax withholding has been led by high-tech sectors, but many other sectors are showing big gains as well.

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Income Tax Withholding Tracker: May 1 - May 28 May 28, 2021

California income tax withholding in May was 29.4 percent above last May, when serious pandemic restrictions were in effect.

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The 2021-22 Budget: May Revenue Outlook May 17, 2021

This post provides commentary on our May Outlook revenues.

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March 2021 State Tax Collections April 28, 2021

March collections from the state’s three largest taxes—the personal income tax, corporation tax, and sales tax—exceeded projections by $2.5 billion (30 percent).

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Income Tax Withholding Tracker: April 1 - April 26 April 26, 2021

California income tax withholding collections to date in April are up 30.3 percent over April 2020, and collections to date in fiscal year 2020-21 are up 11.9 percent over 2019-20. 
 

Thumbnail for Income Tax Withholding Tracker: March 1 - March 29

Income Tax Withholding Tracker: March 1 - March 29 March 30, 2021

California income tax withholding collections to date in March are up 20.3 percent over last year, and collections to date in fiscal year 2020-21 are up 11.0 percent over 2019-20.

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February 2021 State Tax Collections March 22, 2021

February gross revenue collections from the state’s three largest taxes were ahead of budget projections by $1.6 billion (14 percent).