November 2017 State Revenues [EconTax Blog]

Dec 11, 2017 - As shown in the table below, collections from the state ’s three main taxes came in $46 million below the June 2017 budget projection. Positive corporation tax (CT) results were more than offset by personal income tax (PIT) and sales and use tax (SUT) collections coming in below projections.
https://lao.ca.gov/LAOEconTax/Article/Detail/261

A Review of Caltrans’ Vehicle Insurance Costs

Dec 5, 2017 - About half of the miles driven in 2016 were attributable to four districts covering the Bay Area, the greater Sacramento area, the lower portion of the Central Valley, and Los Angeles and Ventura counties.
https://lao.ca.gov/Publications/Report/3721

October 2017 State Jobs Report [EconTax Blog]

Dec 1, 2017 - Follow @LAOEconTax on Twitter for regular California economy and tax updates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/260

Consumer privacy. [Ballot]

Dec 1, 2017 - The magnitude of the potential impacts on the ec onomy and state and local tax revenue is unknown and would depend on how the state and local governments, businesses, and the public responded to the measure.
https://lao.ca.gov/BallotAnalysis/Initiative/2017-039

Estate taxes and financial aid for college. [Ballot]

Nov 30, 2017 - Background Estate Taxes Federal Government Collects an Estate Tax. The federal estate tax applies to the transfer of assets at death. In 2016, Californians paid $3.9  billion in federal estate taxes.
https://lao.ca.gov/BallotAnalysis/Initiative/2017-038

Use of revenue raised by bonds or taxes approved by the voters. [Ballot]

Nov 17, 2017 - In other cases, state and local governments have more discretion over how to use bond proceeds or tax revenue approved by voters. Proposal Restricts Use of Bond and Tax Revenue. This measure restricts the use of voter-approved bond proceeds and tax revenue.
https://lao.ca.gov/BallotAnalysis/Initiative/2017-034

Fiscal Outlook: Focus on Revenues [EconTax Blog]

Nov 15, 2017 - Follow @LAOEconTax on Twitter for regular California economy and tax updates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/257

Fiscal Outlook: Property Taxes Exceed Budget Expectations [EconTax Blog]

Nov 15, 2017 - Recent data reported by county assessors to the State Board of Equalization shows statewide assessed values rose by 6.2% in 2017-18. This is one half of a percentage point faster than assumed in the budget act.
https://lao.ca.gov/LAOEconTax/Article/Detail/258

State Fiscal Effects of California’s Minimum Wage

Nov 15, 2017 - As shown in the bottom row of the figure, the higher statewide minimum wage will affect General Fund revenues, primarily due to its effects on the personal income tax (PIT) and the sales and use tax (SUT), the two largest state revenue sources.
https://lao.ca.gov/Publications/Report/3714

The 2018-19 Budget: California's Fiscal Outlook

Nov 15, 2017 - The near-term budget outlook is positive. Under our current estimates, the state would have $19.3 billion in total reserves (including $7.5 billion in discretionary reserves) at the end of 2018-19, assuming the Legislature makes no additional budget commitments. The Legislature can use discretionary resources to build more budget reserves, increase spending, and/or reduce taxes.
https://lao.ca.gov/Publications/Report/3718/1