March 6, 2019 - The 2017 federal Tax Cuts and Jobs Act made significant changes to federal tax laws. Generally, the federal tax changes reduced tax rates and broadened the tax base (what is subject to tax). Because the state’s income tax laws closely refer to large portions of federal law, many of those changes created new differences between federal and state taxes. State law currently does not adopt—or conform to—any of the federal changes made in 2017. This report assesses the arguments for and against conforming to ten of those major changes. (Five of these conformity provisions are included in the Governor's proposal.)
October 5, 2020 - The 2020‑21 budget package included several tax policy changes. Overall, the budget package assumes these changes will result in a net revenue increase of about $4 billion in 2020‑21. Starting in 2023‑24, the net effect of these changes are expected to reduce revenues below what they otherwise would have been.
June 6, 1990 - This document provides a review of 14 revenue options that could be put into effect for the 1990-91 fiscal year. It was prepared at the request of the Senate Budget and Fiscal Review Committee, in order to assist the Committee's review of its fiscal choices for the 1990-91 Budget.
October 17, 2019 - This post describes the 2019-20 budget actions changing state individual and business tax provisions (partial tax conformity).
February 20, 2008 - 2008-09 Budget: Perspectives and Issues
February 19, 1997 - The Governor's Corporate Tax Reduction Proposal
February 6, 2004 - Presented to the Assembly Select Committee on Biotechnology
December 1, 1988 - The purpose of this report is to provide information which will assist the Legislature in reviewing the state's tax expenditure budget, including making decisions regarding which individual TEPs should be retained, renewed, modified, or eliminated.
January 26, 2022 - This 2022-23 budget post provides background on temporary limits on the use of net operating loss deductions and business tax credits. It describes the Governor’s proposal to lift these limits one year early and provides some comments to the Legislature.
April 7, 2008 - Presented to: Assembly Revenue and Taxation committee
February 23, 1994 - General Fund revenues are expected to support 73 percent of the proposed $55.6 billion total 1994-95 spending plan. This is a decline from the 78 percent share these revenues represented in fiscal year 1992-93, in part due to the continuing slow growth of General Fund revenues relative to special fund revenues, but primarily because of past and proposed shifts of revenues from the General Fund to special fund accounts.