The 2023-24 Budget: Multiyear Budget Outlook

May 23, 2023 - When combined with slightly smaller increases in the local property tax portion of Proposition  98, overall growth in school and community college funding would average around 4.6  percent annually. Operating Deficits Average $18   Billion Annually Under LAO Estimates.
https://lao.ca.gov/Publications/Report/4772

An Update on California’s Cash Management Situation

Aug 31, 2020 - Agency Cash Versus Controller ’s Cash The state ’s main tax revenue agencies (namely, the Franchise Tax Board and the California Department of Tax and Fee Administration) collect tax payments and then transmit those payments to the State Controller ’s Office.
https://lao.ca.gov/Publications/Report/4266

The 2018-19 May Revision: LAO Revenue Outlook

May 12, 2018 - (Corporations previously avoided paying federal tax on these profits by holding them overseas.) Once this one-time tax is paid, corporations may bring these profits back to the U.S. any time (without paying any additional federal taxes).
https://lao.ca.gov/Publications/Report/3830

Evaluation of a Sales Tax Exemption for Certain Manufacturers [Publication Details]

Dec 11, 2018 - Evaluation of a Sales Tax Exemption for Certain Manufacturers [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/3907

Evaluation of a Sales Tax Exemption for Certain Manufacturers

Dec 11, 2018 - The net benefit calculation includes revenue gains from four major taxes —the personal income tax, the sales tax, the corporation tax, and the property tax —resulting from economic activity generated by the exemption.
https://lao.ca.gov/Publications/Report/3907

Assessing Recent Changes to California Competes [Publication Details]

Mar 30, 2020 - Assessing Recent Changes to California Competes [Publication Details] Assessing Recent Changes to California Competes Format: HTML Description: California Competes is an economic development tax incentive program that allows the administration to negotiate tax credit agreements with individual companies that agree to meet multiyear hiring and investment targets.
https://lao.ca.gov/Publications/Detail/4213

How Will Aging Baby Boomers Affect Future Property Tax Revenues?

Jun 20, 2017 - Turnover Key to Property Tax Growth Under Proposition  13, Property Turnover Drives Property Tax Growth. Proposition  13 was a landmark decision by California ’s voters in 1978 to limit property taxes.
https://lao.ca.gov/Publications/Report/3693

The 2017-18 Budget: California Competes Tax Credit

Feb 27, 2017 - The first businesses that negotiated California Competes tax credit agreements with GO-Biz in 2014 were allowed to claim tax credits against their 2014 tax year income tax liability (provided they achieved their hiring and investment targets).
https://lao.ca.gov/Publications/Report/3586

Volatility of the Personal Income Tax Base

Feb 8, 2017 - California’s PIT Tax Base The tax base used by California for its personal income tax is similar to the federal government ’s, but is set in state law. Figure  2 summarizes the major components of the state ’s PIT tax base as reported on federal and state tax forms.
https://lao.ca.gov/Publications/Report/3548

The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - Recently, corporation tax collections have grown faster than anticipated while personal income tax collections have grown somewhat slower. The administration assumes that this pattern will continue. This is because they attribute the pattern to partnerships, which are taxed under the personal income tax, changing to corporations in response to 2017 federal tax changes.
https://lao.ca.gov/Publications/Report/4135