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

Sep 17, 2021 - U.S. retail sales (seasonally adjusted) grew 0.7 percent from July to August. Retail sales remain elevated due to dramatic growth in January and March.
https://lao.ca.gov/LAOEconTax/Article/Detail/694

Income Tax Withholding Tracker: August 1 - August 27 [EconTax Blog]

Sep 7, 2021 - Income Tax Withholding Tracker: August 1 - August 27 [EconTax Blog] Income Tax Withholding Tracker: August 1 - August 27 September 7, 2021 Brian Uhler Bottom Line: California income tax withholding collections in August through the 27th were 19.7 percent above August 2020, and collections to date in fiscal year 2021-22 were 20.2 percent above 2020-21.
https://lao.ca.gov/LAOEconTax/Article/Detail/692

Psilocybin legalization. [Ballot]

Sep 1, 2021 - The amount of sales tax revenue collected would depend on the portion of sales that are not for medical, therapeutic, religious, or spiritual purposes, which would be exempt from sales tax under the measure.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-005

K-12 Funding by Source [EdBudget]

Aug 31, 2021 - This reduction is more than offset by (1) approximately $1.4 billion in one-time funding for various infrastructure improvements and (2) baseline increases in state pension costs and debt service on school facility bonds. c Includes revenue from property taxes collected in excess of the Local Control Funding Formula allotments, parcel taxes, fees, and local
https://lao.ca.gov/Education/EdBudget/Details/545

The 2021-22 California Spending Plan: The State Appropriations Limit [Publication Details]

Aug 30, 2021 - This post describes the legislative and administrative decisions regarding the State Appropriations Limit (SAL) in the 2021‑22 budget process.
https://lao.ca.gov/Publications/Detail/4449

The 2021-22 California Spending Plan: The State Appropriations Limit

Aug 30, 2021 - The Legislature can use excess revenues in three ways: (1)  appropriate more money for purposes excluded from the state appropriations limit (SAL), (2)  split the excess between additional school and community college district spending and taxpayer rebates, or (3)  lower tax revenues.
https://lao.ca.gov/Publications/Report/4449

Cannabis Tax Revenue Update [EconTax Blog]

Aug 23, 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/687

How Long Do Firms Take from Founding to IPO? [EconTax Blog]

Aug 18, 2021 - These shares generate revenue for the state in two ways: (1) when received, they are recognized as ‘supplemental wages ’ for tax purposes, which the firm is required to pay withholding on, and (2) when sold, the employee owes income tax on the capital gain if the stock ’s selling price is higher than the price when the employee first received it.
https://lao.ca.gov/LAOEconTax/Article/Detail/685

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

Aug 17, 2021 - U.S. retail sales (seasonally adjusted) fell 1.1 percent from June to July. Retail sales remain elevated due to dramatic growth in January and March.
https://lao.ca.gov/LAOEconTax/Article/Detail/684

Financial Aid Award Amounts [EdBudget]

Aug 6, 2021 - Students who receive the Cal Grant B Access Award also receive a supplemental award funded by the College Access Tax Credit (CATC). The 2021-22 Budget Act caps the supplemental award at $12, though the actual award amount may be lower depending on available CATC revenues.
https://lao.ca.gov/Education/EdBudget/Details/540