Cannabis Tax Revenue Update [EconTax Blog]

May 8, 2018 - The state collected $34 million in cannabis excise tax revenue in the first quarter of 2018. Based on this quarterly tally, we think that 2017-18 revenue likely will be somewhat l ower than the administration ’s January estimate.  
https://lao.ca.gov/LAOEconTax/Article/Detail/282

The 2018-19 Budget: California Earned Income Tax Credit Education and Outreach

May 8, 2018 - Consequently, some of those eligible for a state credit may not know the state EITC is available—or that they are eligible—due to not filing a state return. The U.S. Internal Revenue Service (IRS), the state tax agencies, and many other organizations have ongoing efforts to increase the number of eligible individuals and families claiming the federal and state EITCs.
https://lao.ca.gov/Publications/Report/3826

The 2018-19 Budget: California Earned Income Tax Credit Education and Outreach [Publication Details]

May 8, 2018 - This post explains a grant program that provided funds for education and outreach related to the state earned income tax credit (EITC) and provides comments on how the Legislature might prioritize any future state-funded EITC outreach activities.
https://lao.ca.gov/Publications/Detail/3826

The 2018-19 Budget: A Guide to Understanding Potential Changes in the Proposition 98 Guarantee

May 7, 2018 - The state budget typically provides an annual COLA for certain school and community college programs. State law links this COLA to a national price index developed by the Bureau of Economic Analysis (a division of the U.S.
https://lao.ca.gov/Publications/Report/3823

The 2018-19 Budget: Review of Fair Political Practices Commission Budget and Workload

May 7, 2018 - The remaining members are appointed by the State Controller, Secretary of State, and Attorney General. No more than three commissioners may be from the same political party. The chair is the only member of the commission who is considered a full-time member and who receives a salary.
https://lao.ca.gov/Publications/Report/3822

Looking at the Early Effects of Federal Tax Changes on Housing [EconTax Blog]

May 4, 2018 - State and Local Tax Deduction. Under prior law, taxpayers could deduct the amounts they paid for local property taxes plus state income taxes or state and local sales taxes. Under the new law, these deductions are limited to $10,000 per year.
https://lao.ca.gov/LAOEconTax/Article/Detail/281

The 2018-19 Budget: Update on State Funding for K-12 School Facilities

May 3, 2018 - For both types of projects, the state can contribute up to 100  percent of project costs if districts face challenges in raising their local shares. Several State Bonds Approved Early On but State Funding Exhausted by 2012.
https://lao.ca.gov/Publications/Report/3821

The 2018-19 Budget: Update on State Funding for K-12 School Facilities [Publication Details]

May 3, 2018 - The 2018-19 Budget: Update on State Funding for K-12 School Facilities [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/3821

Bay Area Home Prices Looking a Little Hot [EconTax Blog]

May 2, 2018 - The graphic below shows the price-to-rent ratios for four Bay Area counties (Marin, San Francisco, San Mateo, and Santa Clara), as well as the rest of the state. In normal times, California ’s statewide price-to-rent ratio tends to hover around 25.
https://lao.ca.gov/LAOEconTax/Article/Detail/277

April 2018: Personal Income Tax Tracker [EconTax Blog]

May 2, 2018 - April 2018: Personal Income Tax Tracker [EconTax Blog] Carolyn Chu April is a major revenue month for the state. This post includes two graphs that track the state ’s progress in meeting the administration ’s January 2018 projection for April personal income tax receipts.
https://lao.ca.gov/LAOEconTax/Article/Detail/273