The 2023-24 Budget: Overview of the Governor's Budget

Jan 13, 2023 - The Governor ’s budget includes nearly $3  billion in reductions, the largest of which is withdrawing a discretionary principal payment on state ’s unemployment insurance loan (which otherwise is paid by employers ’ payroll taxes).
https://lao.ca.gov/Publications/Report/4662

The Local Control Funding Formula for School Districts and Charter Schools

Jan 9, 2023 - The property tax revenue in excess of their LCFF allotments is known as excess property tax revenue. Basic aid school districts can use their excess property tax revenue on their local education priorities.
https://lao.ca.gov/Publications/Report/4661

A student’s right to a high-quality public education. [Ballot]

Dec 16, 2022 - About three-quarters of the total funding for K-12 education comes from an allotment of state General Fund and local property tax revenue that the Constitution requires to be set a side for public schools and community colleges.
https://lao.ca.gov/BallotAnalysis/Initiative/2022-007

Issues That Could Impact Californians' Health Care Coverage in 2023 and Beyond

Dec 16, 2022 - As part of the federal Tax Cuts and Jobs Act of 2017, Congress effectively eliminated the federal individual mandate by setting the penalty for violating the coverage requirement to zero beginning in 2019.
https://lao.ca.gov/Publications/Report/4654

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

Dec 15, 2022 - U.S. retail sales (seasonally adjusted) declined 0.6 percent from October to November.
https://lao.ca.gov/LAOEconTax/Article/Detail/764

New Inflation Poses Not So New Budget Risk

Dec 15, 2022 - This means that a portion of any inflation created by the tax rebate program will be exported to the rest of the U.S. Once dissipated across the nearly $26  trillion U.S. economy, California ’s $9.5  billion in tax refunds represent, at most, a trivial contribution to broader inflationary pressures.
https://lao.ca.gov/Publications/Report/4653

Cannabis Tax Revenue Update [EconTax Blog]

Nov 18, 2022 - Cannabis Tax Revenue Update [EconTax Blog] Seth Kerstein In November 2016, California voters approved Proposition 64 , which legalized the nonmedical use of cannabis. Proposition 64 created two excise taxes on cannabis: a retail excise tax and a cultivation tax.
https://lao.ca.gov/LAOEconTax/Article/Detail/762

October Tax Collections [EconTax Blog]

Nov 17, 2022 - October Tax Collections [EconTax Blog] Brian Uhler October collections from the state 's “big three ” tax revenues —personal income, corporation, and sales taxes —came in far ahead of Budget Act assumptions.
https://lao.ca.gov/LAOEconTax/article/Detail/761

October Tax Collections [EconTax Blog]

Nov 17, 2022 - October Tax Collections [EconTax Blog] Brian Uhler October collections from the state 's “big three ” tax revenues —personal income, corporation, and sales taxes —came in far ahead of Budget Act assumptions.
https://lao.ca.gov/LAOEconTax/Article/Detail/761

Why Has Income Tax Withholding Lagged, Despite Job Growth? [EconTax Blog]

Nov 16, 2022 - Why Has Income Tax Withholding Lagged, Despite Job Growth? [EconTax Blog] Why Has Income Tax Withholding Lagged, Despite Job Growth? November 16, 2022 Chas Alamo Why Has Income Tax Withholding Lagged, Despite Job Growth?
https://lao.ca.gov/LAOEconTax/Article/Detail/759