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

^[PDF] UPDATE

Generally, each dollar of additional prop- erty tax revenue received by school districts saves one dollar of state General Fund money. It is possible that even more property tax rev- enues for school districts may be identified by the May Revision.
https://lao.ca.gov/1999/cal_update/mar_99_calupdate.pdf

calupdate_1099

Regarding individual tax revenue sources: Personal income tax receipts were up $305 million (4.5 percent), due to higher-than-expected withholding and quarterly estimated payments toward 1999 tax liabilities, and lower-than-expected refunds o n 1998 liabilities.
https://lao.ca.gov/1999/cal_update/oct_99/oct_99_calupdate.html

California's Tax Expenditure Programs: Compendium of Individual Programs Overview

This is because the value of the tax provision may vary depending on the taxpayer's marginal tax rate. For example, for income deductions, a djustments, and exclusions, the value of the tax provision will increase along with the marginal tax rate.
https://lao.ca.gov/1999/tax_expenditure_299/tep_299_compendium_intro.html