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The 2022-23 Budget: Temporary Limits on Business Tax Provisions


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The 2020-21 May Revision: Revenue Proposals in the 2020-21 May Revision

May 20, 2020 - The May Revision includes a number of revenue-related proposals. This post describes these proposals and offers our initial comments and recommendations. We also offer alternative revenue options that the Legislature could consider.

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The 2020-21 Spending Plan: Tax Changes

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.

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The 2019-20 Budget: California Spending Plan—Conformity

October 17, 2019 - This post describes the 2019-20 budget actions changing state individual and business tax provisions (partial tax conformity).

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[PDF] The 2019-20 Budget: Tax Conformity

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.)

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[PDF] Letter to Honorable Mark Leno on Corporation Tax Trends

March 13, 2014 - This letter responds to a request concerning California corporate tax trends, as discussed in the January 23, 2014 meeting of the Senate Committee on Budget and Fiscal Review. In nominal terms, the state's corporation tax has tended to grow over time, but it is a volatile tax. Moreover, since the mid-1980s, various legislative actions have reduced revenues this tax produces for the state General Fund.

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[PDF] California Tax Policy and Biotechnology

February 6, 2004 - Presented to the Assembly Select Committee on Biotechnology

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[PDF] California's Enterprise Zone Programs

February 16, 2011 - Presented to Senate Governance and Finance Committee

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The Governor's Corporate Tax Reduction Proposal

February 19, 1997 - The Governor's Corporate Tax Reduction Proposal

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[PDF] California's Enterprise Zone Programs

February 7, 2011 - Presented to Assembly Budget Subcommittee No. 4 on State Administration and Revenue and Taxation

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The 2020-21 Budget: Initial Comments on the Governor’s May Revision

May 17, 2020 - On May 14, 2020, Governor Newsom presented a revised state budget proposal to the Legislature. In this post, we provide an overview of the overall budget condition under the May Revision estimates and proposals; the major actions the Governor took to close an estimated $54 billion budget gap; and give our initial comments on this budget package.

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[PDF] 2008-09 Budget: Perspectives and Issues

February 20, 2008 - 2008-09 Budget: Perspectives and Issues

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The 2022-23 California Spending Plan: Other Provisions

September 27, 2022 - This post discusses features of the state's spending plan that were not covered elsewhere in the 2022-23 Spending Plan series.

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[PDF] The Budget Package: 2010-11 California Spending Plan

November 4, 2010 - The 2010–11 state spending plan includes total budget expenditures of $117.4 billion from the General Fund and special funds. This consists of $86.6 billion from the General Fund and $30.9 billion from special funds. While this level of budgeted General Fund spending is far below the $103 billion recorded in 2007–08, it is $203 million—0.2 percent—higher than in 2009–10. Spending from special funds, however, is budgeted to be $7.5 billion—32.3 percent—higher than in 2010–11, driven mainly by recent changes in Medi–Cal and transportation funding that were enacted in part to offset costs in the General Fund. In addition, the budget assumes spending from bond funds of about $8 billion as the state continues to allocate moneys from the $43 billion bond package approved at the November 2006 election. The budget plan (including gubernatorial vetoes) includes the following actions: $7.8 billion of expenditure–related solutions; $5.4 billion of new federal funding; and $3.3 billion of revenue actions.