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

The 2022-23 California Spending Plan: Judiciary and Criminal Justice

Sep 26, 2022 - Excess Property Tax Offset. The budget includes a $128.4 million reduction in General Fund support for trial court operations in 2022-23 in order to reflect the availability of property tax revenue in accordance with Control Section 15.45 and Section 2578 of the Education Code.
https://lao.ca.gov/Publications/Report/4625

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

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

Sep 15, 2022 - U.S. retail sales (seasonally adjusted) grew 0.3% from July to August.
https://lao.ca.gov/LAOEconTax/Article/Detail/754

Income Tax Witholding Tracker: August 2022 [EconTax Blog]

Sep 1, 2022 - Income Tax Witholding Tracker: August 2022 [EconTax Blog] Income Tax Witholding Tracker: August 2022 September 1, 2022 Chas Alamo California employers make regular income tax withholding payments for their employees.
https://lao.ca.gov/LAOEconTax/Article/Detail/752

Income Tax Witholding Tracker: August 2022 [EconTax Blog]

Sep 1, 2022 - Income Tax Witholding Tracker: August 2022 [EconTax Blog] Income Tax Witholding Tracker: August 2022 September 1, 2022 Chas Alamo California employers make regular income tax withholding payments for their employees.
https://lao.ca.gov/LAOEconTax/article/Detail/752

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

K-12 Funding by Source [EdBudget]

Aug 17, 2022 - K-12 Funding by Source [EdBudget]     a Consists primarily of state pension payments on behalf of districts, state debt service on school facility bonds, non-Proposition 98 funding for the California State Preschool Program, and operational expenses of the California Department of Education. b Excludes funding for child care programs administered by the California Department of Social Services
https://lao.ca.gov/Education/EdBudget/Details/661

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

Aug 17, 2022 - U.S. retail sales (seasonally adjusted) remained nearly unchanged from June to July.
https://lao.ca.gov/LAOEconTax/Article/Detail/748

IRS Migration Data Shows Increased Movement in 2020 [EconTax Blog]

Aug 16, 2022 - The forgone state income tax collections associated with this net outmigration likely represent a bit over one percent of total s tate income tax revenues. This is about double the amount of forgone revenues associated with outmigration in 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/747