Income Tax Withholding Tracker: 3/23 to 3/27 [EconTax Blog]

Mar 27, 2020 - Income Tax Withholding Tracker: 3/23 to 3/27 [EconTax Blog] Income Tax Withholding Tracker: 3/23 to 3/27 March 27, 2020 Brian Uhler Bottom Line: The impact of the COVID-19 outbreak is now noticeable in withholding, with payments this week dropping at a similar rate to the comparable week during the depths of the Great Recession.  
https://lao.ca.gov/LAOEconTax/Article/Detail/446

The 2023-24 Budget: CalWORKs

Feb 22, 2023 - Following a major realignment of state and local responsibilities in 1991, some funds generated by the state sales tax and vehicle license fee accrue to a special fund with a series of subaccounts which pay for a variety of health and human services programs.
https://lao.ca.gov/Publications/Report/4699

Income Tax Withholding Tracker: 3/16 to 3/20 [EconTax Blog]

Mar 20, 2020 - Income Tax Withholding Tracker: 3/16 to 3/20 [EconTax Blog] Income Tax Withholding Tracker: 3/16 to 3/20 March 20, 2020 Brian Uhler Bottom Line: While COVID-19 does not appear to have significantly affected personal income tax withholding to date, we anticipate a slowdown in withholding in the coming weeks.
https://lao.ca.gov/LAOEconTax/Article/Detail/443

Cannabis Tax Revenue Update [EconTax Blog]

Aug 19, 2020 - 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/524

Income Tax Withholding Tracker: February 1 - February 19 [EconTax Blog]

Feb 19, 2021 - Income Tax Withholding Tracker: February 1 - February 19 [EconTax Blog] Income Tax Withholding Tracker: February 1 - February 19 February 19, 2021 Brian Uhler Bottom Line: California income tax withholding collections in February to date are 7.8 percent above February 2020.
https://lao.ca.gov/LAOEconTax/Article/Detail/627

2021-22 “Big Three” Revenue Outlook Update: September 2021 [EconTax Blog]

Sep 20, 2021 - We currently project that there is a strong chance that collections from the state ’s “big three ” taxes —personal income, sales, and corporation taxes —will exceed the budget act assumption of $170 billion in 2021-22.
https://lao.ca.gov/LAOEconTax/Article/Detail/698

May Revision 2016: Revenue Outlook [EconTax Blog]

May 16, 2016 - For 2014-15,  we estimate  that the combined revenues of the General Fund ’s four largest tax sources (PIT, sales taxes, corporation taxes, and insurance taxes) are $210 million more than the administration currently estimates for 2014-15.
https://lao.ca.gov/LAOEconTax/Article/Detail/186

The 2018-19 Budget: The May Revision—State Earned Income Tax Credit Expansion

May 14, 2018 - The 2018-19 Budget: The May Revision—State Earned Income Tax Credit Expansion State Earned Income Tax Credit Expansion Background State Earned Income Tax Credit (EITC) Boosts Low-Income Households ’ Earnings.
https://lao.ca.gov/Publications/Report/3835

The 2018-19 Budget: The May Revision—State Earned Income Tax Credit Expansion [Publication Details]

May 14, 2018 - The 2018-19 Budget: The May Revision—State Earned Income Tax Credit Expansion [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/3835

May Revision: LAO Revenue Outlook [EconTax Blog]

May 16, 2015 - California taxes capital gains income generated from sales of stocks and other assets, and it taxes high-income individuals receiving most capital gains at higher rates . Capital gains are quite volatile, contributing substantially to the overall volatility of California's tax revenues.
https://lao.ca.gov/LAOEconTax/Article/Detail/105