August 2018 State Tax Collections [EconTax Blog]

Sep 12, 2018 - Higher personal income tax (PIT) withholding and increased sales tax revenue each made up about half of the increase. We discuss each of these in a bit more detail below. PIT Withholding Continued to Be Strong in August.
https://lao.ca.gov/LAOEconTax/Article/Detail/305

Cannabis Tax Revenue Update [EconTax Blog]

May 26, 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/738

August 2019 State Tax Collections [EconTax Blog]

Sep 20, 2019 - August 2019 State Tax Collections [EconTax Blog] Carolyn Chu August Revenues Slightly Below Projections. As seen in the figure below, August revenue collections across the state ’s three largest revenue sources —personal income tax (PIT), corporation tax, and sales tax —fell almost $380 million below projections.
https://lao.ca.gov/LAOEconTax/Article/Detail/401

California State Tax Expenditures Total Around $55 Billion [EconTax Blog]

Feb 18, 2015 - Defining Tax Expenditures What Are Tax Expenditures? The term "tax expenditures " refers to tax exclusions, exemptions, preferential tax rates, credits, and other tax provisions that reduce the amount of revenue collected from the basic tax structure.
https://lao.ca.gov/LAOEconTax/Article/Detail/60

The 2019-20 Budget: Tax Conformity [Publication Details]

Mar 6, 2019 - Generally, the federal tax changes reduced tax rates and broadened the tax base (what is subject to tax). Because the state’s income tax laws closely refer to large portions of federal law, many of those changes created new differences between federal and state taxes.
https://lao.ca.gov/Publications/Detail/3959

The 2019-20 Budget: Tax Conformity

Mar 6, 2019 - Generally Reduced Tax Rates . . . The 2017 federal tax law reduced effective tax rates for many filers. (The effective tax rate is the total amount of tax divided by the taxpayer ’s gross income.) In particular, the law: Replaced the previous CT rate structure with a flat 21  p ercent tax rate.
https://lao.ca.gov/Publications/Report/3959

July 2019 State Tax Collections [EconTax Blog]

Aug 19, 2019 - As has been the case throughout 2019, personal income tax (PIT) withholding continues to be strong, growing 5.5  percent compared to the same period last year. Similarly, corporation tax collections also continued to be strong, with estimated payments over 33 percent above the administration ’s projection.
https://lao.ca.gov/LAOEconTax/Article/Detail/391

The 2022-23 California Spending Plan: Housing and Homelessness

Sep 16, 2022 - Incentives and Support to Increase Housing Development Continues State Low-Income Housing Tax Credits. The 2022-23 budget provides HCD additional state housing tax credits. In addition to the $100  million annually that the state makes available for housing tax credits, the budget makes available an additional $500  million one time for tax credits to builders of rental housing affordable to low-income households.
https://lao.ca.gov/Publications/Report/4622

July 2020 Tax Payments Tracker: July 31 Update [EconTax Blog]

Jul 31, 2020 - July 2020 Tax Payments Tracker: July 31 Update [EconTax Blog] Brian Weatherford In a normal year, April and June are key months for state personal income tax and corporation tax collections, while July is relatively uneventful.
https://lao.ca.gov/LAOEconTax/Article/Detail/511

Local land use planning and zoning. [Ballot]

Sep 1, 2023 - For example, housing developments that are privately owned, r eceive no property tax exemption, and do not have more than 49  percent of housing units occupied by low-income residents, as defined, are exempt from Article 34.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-011