U.S. Retail Sales Update: December 2023 [EconTax Blog]

Jan 17, 2024 - U.S. retail sales have grown 0.7 percent over the last 3 months and 5.6 percent over the last 12 months. Both of these growth rates outpaced inflation.
https://lao.ca.gov/LAOEconTax/article/Detail/794

Recent Revenues Coming in Below Governor's Budget Projections [EconTax Blog]

Jan 22, 2024 - Individuals with substantial capital gains and other non-wage income make quarterly estimated tax payments to meet state tax requirements. As shown in the figure  below, January estimated tax payments from these taxpayers are running well below targets needed to meet the Governor 's budget revenue levels for 2023-24.
https://lao.ca.gov/LAOEconTax/Article/Detail/795

Recent Revenues Coming in Below Governor's Budget Projections [EconTax Blog]

Jan 22, 2024 - Individuals with substantial capital gains and other non-wage income make quarterly estimated tax payments to meet state tax requirements. As shown in the figure  below, January estimated tax payments from these taxpayers are running well below targets needed to meet the Governor 's budget revenue levels for 2023-24.
https://lao.ca.gov/LAOEconTax/article/Detail/795

The 2024-25 Budget: Department of Health Care Access and Information

Feb 27, 2024 - MCO Tax Package Augmented Support for Hospital Relief Programs. As noted in the “Health Care Workforce Proposals ” section of this post, last year ’s budget enacted a multiyear plan for the MCO tax. As part of this plan, the Legislature designated $200  million one-time MCO tax funds for HCAI hospital relief programs in 2023 ‑24.
https://lao.ca.gov/Publications/Report/4860

The 2024-25 Budget: Medi-Cal Analysis

Feb 14, 2024 - As we noted in the “MCO Tax Budget Solution ” section of this report, there is an expected, though not certain, shortfall in the proposed MCO tax package, estimated by the administration to begin mid ‑2028.
https://lao.ca.gov/Publications/Report/4838

Overview of State Bond Debt Service [EconTax Blog]

Feb 27, 2024 - GO bonds must be approved by the voters and their repayment is guaranteed by the state ’s general taxing power. Most of these are directly paid off from the state ’s General Fund, which is largely supported by tax revenues.
https://lao.ca.gov/LAOEconTax/Article/Detail/798

U.S. Retail Sales Update: November 2023 [EconTax Blog]

Dec 14, 2023 - U.S. retail sales have grown 0.9 percent over the last 3 months and 4.1 percent over the last 12 months. Both of these growth rates outpaced inflation.
https://lao.ca.gov/LAOEconTax/Article/Detail/791

The 2024-25 Budget: Medi-Cal Analysis [Publication Details]

Feb 14, 2024 - The 2024-25 Budget: Medi-Cal Analysis [Publication Details] Description: This brief provides an overview of the Governor’s proposed budget for Medi-Cal; describes key trends in Medi-Cal caseload; and analyzes proposals around the managed care organization tax, provider payment increases, and other budget solutions.
https://lao.ca.gov/Publications/Detail/4838

The 2024-25 Budget: The Governor’s Proposition 98 Funding Maneuver

Feb 15, 2024 - This is because prior ‑year taxes usually have been filed and associated revenues collected by April of any given year. Due to the state conforming to federal tax filing extensions, however, the Legislature only gained a complete picture of 2022 ‑23 tax collections late in 2023 —after the fiscal year already ended.
https://lao.ca.gov/Publications/Report/4840

Effect of Returning to Historical Estimated Tax Payment Schedule [Publication Details]

Feb 27, 2023 - Effect of Returning to Historical Estimated Tax Payment Schedule [Publication Details] Effect of Returning to Historical Estimated Tax Payment Schedule Format: HTML Description: Returning personal and corporate income tax estimated payment amounts to four equal payments, beginning in tax year 2024, would shift about 8 percent of
https://lao.ca.gov/Publications/Detail/4722