State Tax Collections Update: April 2020 to July 2020 [EconTax Blog]

Aug 20, 2020 - Timing of Tax Payments Irregular This Year. Delays in several important tax payment deadlines this year mean the timing of tax payments in recent months has not matched typical patterns. This complicates the interpretation of tax collections numbers, especially for any single month.
https://lao.ca.gov/LAOEconTax/Article/Detail/525

Cannabis Tax Revenue Update [EconTax Blog]

Aug 19, 2020 - In the third quarter of 2019-20 (January through March), retail excise tax revenue increased by 25 percent and cultivation tax revenue increased by 11 percent. Why Such Strong Growth in the Prior Quarter?
https://lao.ca.gov/LAOEconTax/Article/Detail/524

Home Sales Update: July 2020 [EconTax Blog]

Aug 18, 2020 - California home sales were running at a relatively high level early in the year, then dropped sharply as a result of the COVID-19 pandemic. Sales recovered somewhat in June, and July’s figure of 36,447 was the highest since August 2017.
https://lao.ca.gov/LAOEconTax/Article/Detail/523

California Community Colleges Funding by Source [EdBudget]

Aug 17, 2020 - Colleges must spend all CARES funding by December 31, 2020. e Scores deferral payments to the year in which colleges are to spend the funds (rather than to the year in which colleges receive the funds).
https://lao.ca.gov/Education/EdBudget/Details/409

Weekly Unemployment Claims Update: August 2 - August 8 [EconTax Blog]

Aug 14, 2020 - As of August 8, California had 3.4 million employees receiving traditional unemployment benefits, level with the highest figure reported since EDD began releasing this information earlier in the year.
https://lao.ca.gov/LAOEconTax/Article/Detail/521

Income Tax Withholding Tracker: August 10-August 14 [EconTax Blog]

Aug 14, 2020 - The final graph shows the year over year changes in cumulative withholding for California in 2020, the United States in 2020 (from the federal income tax), and California in 2009 at the trough of the Great Recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/522

U.S. Retail Sales: July 2020 [EconTax Blog]

Aug 14, 2020 - July 2020 sales by some types of retailers substantially exceeded last year ’s sales, while sales by other types of retailers fell far short of last year ’s sales. Many of these differences are similar to the ones we noted last month .
https://lao.ca.gov/LAOEconTax/Article/Detail/520

What Threat Does Sea-Level Rise Pose to California?

Aug 10, 2020 - To the degree local property tax revenues drop, this also could affect the state budget in some years because the California Constitution could require that losses in certain local property tax revenues used to support local schools be backfilled by the state ’s General Fund.
https://lao.ca.gov/Publications/Report/4261

Weekly Unemployment Claims Update: July 26 - August 1 [EconTax Blog]

Aug 7, 2020 - As of August 1, California had 3.4 million employees receiving traditional unemployment benefits, the highest figure reported since EDD began releasing this information earlier in the year. Number of Self-Employment Claims Top 1.2 Million This Week.
https://lao.ca.gov/LAOEconTax/Article/Detail/515

Income Tax Withholding Tracker: August 3-August 9 [EconTax Blog]

Aug 7, 2020 - The final graph shows the year over year changes in cumulative withholding for California in 2020, the United States in 2020 (from the federal income tax), and California in 2009 at the trough of the Great Recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/514