California's Fiscal Outlook 1999-00 to 2001-02 Part IV

The state's subvention to local governments to backfill VLF tax relief is projected to increase from $557 million in 1998-99 to $4.5 billion by 2004-05. Our estimates assume that a ll of the potential future VLF tax reductions previously agreed to will be triggered, lowering the VLF tax rate from 2 percent in 1998 down to 0.65 percent by 2003 and thereafter.
https://lao.ca.gov/1999/1199_fiscal_outlook/1199_fiscal_outlook_part_4.html

^[PDF] An LAO Californians and the Marriage Penalty

This approach was embodied in the Marriage Tax Elimination Act of 1999 (H.R. 6, Weller, et al.) and the Marriage Tax Penalty Act of 1999 (S. 12, Hutchison), and in part was incorporated in the Tax Reform Act of 1999—the tax relief measure which Congress recently passed, but was vetoed.
https://lao.ca.gov/1999/121599_marriage_penalty.pdf

Californians and the Marriage Penalty

This approach was embodied in the Marriage Tax Elimination Act of 1999 (H.R. 6, Weller, et al.) and the Marriage Tax Penalty Act of 1999 (S. 12, Hutchison), and i n part was incorporated in the Tax Reform Act of 1999the tax relief measure which Congress recently passed, but was vetoed.
https://lao.ca.gov/1999/121699_marriage_penalty.html

California Spending Plan 1999-00 Chapter 2

California Spending Plan 1999-00 Chapter 2 Legislative Analyst's Office, August 16, 1999 The 1999-00 Budget Act Chapter 2 Tax Relief Provisions The 1999-00 Budget Act includes several tax relief provisions, as summarized in Figure 1 and discussed below.
https://lao.ca.gov/1999/1999_spending_plan/chapter_2.html

^[PDF] June 15, 1999 1999-00 Budget Bill Conference Committee Version

The full fiscal effect would not occur until after the 2003 tax year. þ Approved provision that exempts qualified new corporations from being subject to the minimum franchise tax during the first two years of incorporation, beginning January 1, 2000. • The fiscal effect of this action is estimated to be $28 million in 1999-00, increasing to $60 million annually thereafter.
https://lao.ca.gov/1999/99-00_conference_committee_floor_packet.pdf

State Corporate Taxation of Sales to the Federal Government

In this case, the company's taxes fall by a more significant amount--about $2.2  million (or roughly 6  percent) while its annual after-tax rate of return increases to 9.6  percent. Conclusion. These scenarios suggest that a shift by California from origin to destination would have a modest impact on a "typical " company's combined federal-state tax payments and its after tax rate-of-return.
https://lao.ca.gov/1999/990121_scr44_bct_fed_sales.html

^[PDF] January 1999 State Corporate Taxation of Sales to the Federal Government

In this case, the company’s taxes fall by a more significant amount—about $2.2 million (or roughly 6 per- cent)—while its annual after-tax rate of return increases to 9.6 percent. Conclusion. These scenarios suggest that a shift by California from origin to destina- tion would have a modest impact on a “typical” company’s combined federal-state tax payments and its after tax rate-of-return.
https://lao.ca.gov/1999/990121_scr44_bct_fed_sales.pdf

^[PDF] UPDATE AUGUST 1999

Contact—Steve Boilard—(916) 445-5291 Economic and Revenue Developments The California economy continues to grow at a healthy pace in mid-1999, and these gains are being reflected in key revenue sources such as sales taxes and personal income tax withholding.
https://lao.ca.gov/1999/cal_update/aug_99_trpa.pdf

January 1999 California Update

(The revenue growth rate in the second hal f of 1998-99 will be considerably lower, due to the effects of the recently enacted tax cuts on final personal income tax payments.) Overall, revenues during the first half of the year tracked to the projections assumed in the 1998-99 Budget Act --falling just $57 million below the projected level.
https://lao.ca.gov/1999/cal_update/jan_99_calupdate.html

^[PDF] UPDATE

(The revenue growth rate in the second half of 1998-99 will be considerably lower, due to the effects of the recently enacted tax cuts on final personal income tax payments.) Overall, revenues dur- ing the first half of the year tracked to the projections assumed in the 1998-99 Budget Act—falling just $57 million below the projected level.
https://lao.ca.gov/1999/cal_update/jan_99_calupdate.pdf