The 2019-20 Budget: Overview of the Governor's Budget

Jan 14, 2019 - Based on the recent federal approval of a similar tax in Michigan, federal approval of a reauthorized California MCO tax appears likely. Despite this development, the administration did not propose an extension of the MCO tax in 2019 ‑20, forgoing over $ 1  b illion in General Fund benefit.
https://lao.ca.gov/Publications/Report/3916

The 2023-24 Budget: Overview of Information Technology Project Proposals

Mar 17, 2023 - IT = information technology; TF = total funds; GF = General Fund; OF = other funds; EDD = Employment Development Department; FTB = Franchise Tax Board; CDCR = California Department of Corrections and Rehabilitation; SWRCB = State Water Resources Control Board; DSH = Department of State Hospitals; CARB = California Air Resources Board; DDS = Department of Developmental Services;
https://lao.ca.gov/Publications/Report/4746

State Fiscal Effects of California’s Minimum Wage

Nov 15, 2017 - As shown in the bottom row of the figure, the higher statewide minimum wage will affect General Fund revenues, primarily due to its effects on the personal income tax (PIT) and the sales and use tax (SUT), the two largest state revenue sources.
https://lao.ca.gov/Publications/Report/3714

Main Types of Disaster Recovery Assistance

Jan 10, 2019 - Tax Relief Income Tax Relief. Under federal law , taxpayers can claim an itemized deductions for property losses that are not reimbursed by insurance and that stem from federally declared disasters. (Prior to 2018, unreimbursed disaster-related losses were generally deductible regardless of whether they were attributable to a federally declared disaster.)
https://lao.ca.gov/Publications/Report/3917

Governor’s May Revision Plan to Expend Cannabis Tax Revenues [Publication Details]

May 13, 2019 - Governor’s May Revision Plan to Expend Cannabis Tax Revenues [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/4043

Federal Assistance for Businesses Affected by COVID-19

Apr 3, 2020 - State and federal tax laws typically require taxpayers to report forgiven loan amounts as income. However, the PPP and Health Care Enhancement Act excluded forgiven PPP loans from income for federal tax purposes.
https://lao.ca.gov/Publications/Report/4215

The 2017-18 Budget: The Governor's Cannabis Proposals

Feb 14, 2017 - For example, if licensing entities are significantly delayed in issuing new licenses, there may be limited tax collections and reduced need for BOE tax administration staff in the budget year. Federal Enforcement of Cannabis Laws Uncertain.
https://lao.ca.gov/Publications/Report/3556

The 2019-20 Budget: May Revision Multiyear Budget Outlook

May 17, 2019 - This primarily reflects slower projected growth in General Fund revenue and faster growth in local property tax revenue compared to previous outlooks. This slower growth in school spending contributes to the budget ’s better condition.
https://lao.ca.gov/Publications/Report/4050

The 2019-20 May Revision: Considerations for the Revised Housing and Homelessness Plan

May 13, 2019 - The January budget also proposed a total of $200  million one-time General Fund towards a new state tax credit program targeting housing development for households with relatively higher-income levels.
https://lao.ca.gov/Publications/Report/4045

Voter Requirements for Local Taxes [Publication Details]

Mar 7, 2018 - Voter Requirements for Local Taxes [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/3773