A Key Interaction Between Sales Taxes and Other Taxes on Cannabis Retailers [Publication Details]

Dec 17, 2019 - A Key Interaction Between Sales Taxes and Other Taxes on Cannabis Retailers [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/4124

Property tax assessment. [Ballot]

Oct 15, 2021 - Property taxes are a major revenue source for local governments, raising about $75  billion per year statewide. How Is a Property Tax Bill Calculated?   Each property owner ’s annual property tax bill is equal to the taxable value of their property multiplied by their property tax rate.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-015

July 2018 State Tax Collections [EconTax Blog]

Aug 10, 2018 - Lower sales tax results explain this shortfall, as PIT collections were somewhat above projections and corporation taxes were very close to the monthly estimate. A new IT system used to collect sales tax may explain this lower collection.
https://lao.ca.gov/LAOEconTax/Article/Detail/297

The 2022-23 Budget: Initial Comments on the State Appropriations Limit Proposal

Feb 4, 2022 - This alternative can include one, or any combination, of  the following: Lower Tax Revenues. In order to reduce tax revenues for tax year 2021, the Legislature most likely would need to act very soon, but the state also could lower revenues for 2022 in the coming months.
https://lao.ca.gov/Publications/Report/4515

Cannabis Tax Revenue Update [EconTax Blog]

Nov 30, 2021 - 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/717

U.S. Retail Sales Update: June 2021 [EconTax Blog]

Jul 16, 2021 - U.S. retail sales (seasonally adjusted) grew 0.6 percent from May to June. Retail sales remain elevated due to dramatic growth in January and March.
https://lao.ca.gov/LAOEconTax/Article/Detail/677

The 2022-23 Budget: Initial Comments on the Governor's May Revision

May 16, 2022 - Specifically, SAL requirements can only be met with: Tax Reductions or Tax Refunds. The first way the Legislature can allocate revenues in order to comply with the SAL is to reduce proceeds of taxes, for example, by reducing tax rates, increasing tax credits, or returning funds to taxpayers through tax refunds.
https://lao.ca.gov/Publications/Report/4598

2022-23 Fiscal Outlook Revenue Estimates [EconTax Blog]

Nov 17, 2021 - Below we provide detail on how this assumption is carried out in our forecasts for personal income, corporation, and sales taxes. Personal Income Tax Rapid Growth in Personal Income Tax Revenue. Personal income tax revenue surged in 2020-21 despite the ongoing decline in employment.
https://lao.ca.gov/LAOEconTax/Article/Detail/712

Raising taxes on certain corporations to fund zero-emission vehicle programs and wildfire-related activities. [Ballot]

Dec 27, 2021 - Proposal Increases Taxes on Corporations Earning More Than $20  Million The measure increases the corporation tax for those earning more than $20  million in profits in California. These taxpayers would pay an additional tax of 2.45  percent on their California profits above $20  million.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-038

The 2022-23 Budget: Analysis of the Medi-Cal Budget

Feb 9, 2022 - The current MCO tax has been in place since January  2020 and generates an annual net General Fund benefit of over $1.5  billion. While early versions of the MCO tax taxed MCOs  based on their revenues, the recent versions of the MCO  tax have taxed MCOs based on their enrollment.
https://lao.ca.gov/Publications/Report/4522