K-12 Funding by Source [EdBudget]

Jan 18, 2023 - Also includes operational expenses of the California Department of Education and certain other agencies. b Includes $941 million increase in funding for arts instruction as required by Proposition 28 (2022). c Includes revenue from property taxes collected in excess of the Local Control Funding Formula allotments, parcel taxes, fees, and local reimbursements. d
https://lao.ca.gov/Education/EdBudget/Details/700

The 2022-23 California Spending Plan: Other Provisions

Sep 27, 2022 - Under a credit, the amount of paid dues would reduce the tax filer ’s taxes paid. In general, tax credits provide a greater tax benefit than tax deductions. The policy change would go into effect after 2024 if certain state budget conditions are met.
https://lao.ca.gov/Publications/Report/4626

Were Local School Bond Measures Impacted By Recent Federal Tax Changes? [EconTax Blog]

Nov 30, 2018 - This, in effect, reduced the taxpayer ’s cost of paying state income taxes and local property taxes. Now, state income tax or local property tax payments beyond $10,000 result in no federal income tax savings.
https://lao.ca.gov/LAOEconTax/Article/Detail/330

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - A final complication is the state ’s conformity to the federal Internal Revenue Service rule change that, as a response to the January floods, delayed the 2022 tax filing deadline to October from April.
https://lao.ca.gov/Publications/Report/4762

Cannabis Tax Revenue Update [EconTax Blog]

Aug 22, 2022 - Cannabis Tax Revenue Update [EconTax Blog] Seth Kerstein In November 2016, California voters approved Proposition 64 , which legalized the nonmedical use of cannabis. The state levies two excise taxes on cannabis: a retail excise tax and a cultivation tax.
https://lao.ca.gov/LAOEconTax/Article/Detail/751

The 2023-24 Budget: Analysis of the Medi-Cal Budget

Feb 10, 2023 - New MCO Tax Proposal. The Governor proposes implementing a new MCO tax from January 2024 through December 2026. Similar to previous versions of the tax, a portion of the resulting revenues would help offset Medi ‑Cal General Fund costs.
https://lao.ca.gov/Publications/Report/4675

U.S. Retail Sales Update: May 2022 [EconTax Blog]

Jun 15, 2022 - U.S. retail sales (seasonally adjusted) declined 0.3 percent from April to May. Inflation-adjusted sales declined more.
https://lao.ca.gov/LAOEconTax/Article/Detail/739

California's Tax System: A Visual Guide [Publication Details]

Apr 12, 2018 - This visual guide explains California's tax system using over 40 data visualizations. The report examines various characteristics of the tax system including what items are taxed, who pays the taxes, and how taxes are used.
https://lao.ca.gov/Publications/Detail/3805

Tax Expenditure Evaluation [Publication Details]

Feb 22, 2023 - Tax Expenditure Evaluation [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/4690

April 2019 State Tax Collections [EconTax Blog]

May 21, 2019 - Based on April receipts, the federal tax law appears to have significantly changed the timing of PIT collections. Specifically, filers no longer have an incentive to pay a higher proportion of their state tax liability within the tax year.
https://lao.ca.gov/LAOEconTax/Article/Detail/375