Income Tax Withholding Tracker: 3/30 to 4/3 [EconTax Blog]

Apr 3, 2020 - Nonetheless, given the pace and possible severity of the shift in the state ’s economy resulting from the COVID-19 outbreak, tracking weekly withholding is worthwhile as a way to assess the state ’s rapidly changing economic situation.
https://lao.ca.gov/LAOEconTax/Article/Detail/448

Broad-Based Cash Assistance in COVID-19 Recovery Actions

Apr 3, 2020 - Another related program is the federal Earned Income Tax Credit (EITC), or its state-funded equivalent CalEITC , which provides refundable tax credits to low-income workers. State and Federal Government Also Ensure Some Wage Replacement in Specific Situations.
https://lao.ca.gov/Publications/Report/4214

Federal Assistance for Businesses Affected by COVID-19

Apr 3, 2020 - On April 30, 2020, the federal Internal Revenue Service (IRS) issued a regulation stating that PPP recipients cannot claim a deduction for expenses funded from forgiv en PPP loans. In September, the state conformed to these federal rules for the first round of PPP loans.
https://lao.ca.gov/Publications/Report/4215

Weekly Unemployment Claims Update: March 22-28 [EconTax Blog]

Apr 2, 2020 - Level of Claims in California in the Middle of the Pack Among Large States. Over the last two weeks California has processed about 1 million unemployment claims. These claims represent about 6 percent of the state ’s workforce.
https://lao.ca.gov/LAOEconTax/Article/Detail/447

Assessing Recent Changes to California Competes

Mar 30, 2020 - Prior to 2018, GO ‑Biz awarded about 35  p ercent of the total number of tax credit agreements —about 15  p ercent of the dollar value —to businesses in the non ‑tradable sector of the state ’s economy.
https://lao.ca.gov/Publications/Report/4213

Income Tax Withholding Tracker: 3/23 to 3/27 [EconTax Blog]

Mar 27, 2020 - Nonetheless, given the pace and possible severity of the shift in the state ’s economy resulting from the COVID-19 outbreak, tracking weekly withholding is worthwhile as a way to assess the state ’s rapidly changing economic situation.
https://lao.ca.gov/LAOEconTax/Article/Detail/446

Federal Paid Leave for Workers Impacted by COVID-19 [Publication Details]

Mar 27, 2020 - On Wednesday, March 18, 2020, the President signed the Families First Coronavirus Response Act (H.R. 6201), the second federal relief act aimed at mitigating the economic and public health consequences of COVID-19. In this post, we summarize the two forms of paid leave required under H.R.
https://lao.ca.gov/Publications/Detail/4212

Federal Paid Leave for Workers Impacted by COVID-19

Mar 27, 2020 - Emergency Federal Leave Goes Further Than State ’s Leave Laws. Under state law, employees may take up to 12  weeks of unpaid job-protected leave to care for themselves or a family member who is ill. Regarding paid sick leave, in 2014, the state enacted Chapter  317 (AB  1522, Gonzalez), which requires employers to provide employees a minimum of three days paid sick leave.
https://lao.ca.gov/Publications/Report/4212

Weekly Unemployment Claims Update: March 15-21 [EconTax Blog]

Mar 26, 2020 - Other States Saw Even Larger Increases Than California. While California had a record-setting increase in claims last week, many other states experienced much larger increases in claims. Among the 15 largest states, claims were, on average, 11 times higher (128,000 compared to 12,000) during the week of March 15-21 compared the week prior.
https://lao.ca.gov/LAOEconTax/Article/Detail/445

Nutrition Programs in COVID-19 Recovery Actions

Mar 25, 2020 - (The state in recent years has provided funding to supplement some of these federal programs.) Some Existing State-Only Programs Also Increase Californians ’ Nutrition Access. Although this post focuses on federal nutrition programs, the state also operates several programs increasing nutrition access for targeted populations.
https://lao.ca.gov/Publications/Report/4211