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The 2022-23 Budget: Temporary Limits on Business Tax Provisions
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.
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).
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.
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.)
[PDF] California Tax Policy and Biotechnology
February 6, 2004 - Presented to the Assembly Select Committee on Biotechnology
[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.
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.
[PDF] The 2020-21 Budget: Overview of the California Spending Plan (Final Version)
October 5, 2020 - Each year, our office publishes the California Spending Plan to summarize the annual state budget. This publication provides an overview of the 2020‑21 Budget Act, provides a short history of the notable events in the budget process, and then highlights major features of the budget approved by the Legislature and signed by the Governor. All figures in this publication reflect the administration’s estimates of actions taken through June 30, 2020, but we have updated the narrative to reflect actions taken later in the legislative session. In addition to this publication, we have released a series of issue‑specific posts providing more detail on various programmatic aspects of the budget.
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.
The Governor's Corporate Tax Reduction Proposal
February 19, 1997 - The Governor's Corporate Tax Reduction Proposal
[PDF] 2008-09 Budget: Perspectives and Issues
February 20, 2008 - 2008-09 Budget: Perspectives and Issues