Major Potential State Fiscal Risk Averted Following Withdrawal of Proposed Federal Medicaid Financing Regulation

Sep 21, 2020 - For example, MFAR effectively would have prohibited health care-related taxes that place different tax rates on taxpayers based on their levels of Medicaid (versus non-Medicaid) activity. In their current forms, both the hospital quality assurance fee and the MCO tax likely would have run afoul of these rule changes.
https://lao.ca.gov/Publications/Report/4269

Income Tax Withholding Tracker: September 14 - September 18 [EconTax Blog]

Sep 18, 2020 - Income Tax Withholding Tracker: September 14 - September 18 [EconTax Blog] Income Tax Withholding Tracker: September 14 - September 18 September 18, 2020 Brian Uhler Bottom Line:   California income tax withholding this week was 7 percent above the comparable week in 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/548

August 2020 State Tax Collections [EconTax Blog]

Sep 17, 2020 - August 2020 State Tax Collections [EconTax Blog] Seth Kerstein August revenue collections from the state ’s three largest taxes —the personal income tax, corporation tax, and sales tax —were ahead of budget projections by $1.7 billion (24 percent).
https://lao.ca.gov/LAOEconTax/Article/Detail/546

Impact of COVID-19 on State Transportation Revenues

Sep 17, 2020 - Fuel Taxes. The state collects various excise taxes on gasoline and diesel. The gasoline excise tax is currently set at 50.5 cents per gallon, while the diesel excise tax is set at 38.5 cents per gallon.
https://lao.ca.gov/Publications/Report/4268?utm_source=t.co&utm_medium=referral&utm_campaign=4268

Impact of COVID-19 on State Transportation Revenues [Publication Details]

Sep 17, 2020 - The state has experienced reductions in gasoline and other tax revenues that support California's transportation system. This post discusses these declines and the potential effects on major state transportation programs.
https://lao.ca.gov/Publications/Detail/4268

Impact of COVID-19 on State Transportation Revenues

Sep 17, 2020 - Fuel Taxes. The state collects various excise taxes on gasoline and diesel. The gasoline excise tax is currently set at 50.5 cents per gallon, while the diesel excise tax is set at 38.5 cents per gallon.
https://lao.ca.gov/Publications/Report/4268

U.S. Retail Sales Update: August 2020 [EconTax Blog]

Sep 16, 2020 - U.S. retail sales rose by 0.6 percent from July to August, making sales in August 2020 2.6 percent higher than sales in August 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/545

Local Government Control [Ballot]

Sep 15, 2020 - The state and federal government help to subsidize the construction and rehabilitation of affordable housing deve lopment through tax credits for developers. The state provided $600  million in 2020-21 for tax credits to encourage the development of affordable housing.
https://lao.ca.gov/BallotAnalysis/Initiative/2020-002

Card Spending Update: August 2020 [EconTax Blog]

Sep 11, 2020 - To do this, we use an index—a weighted average of different spending categories—designed to track movements in California’s sales tax base. In this post, we update the index to include August data. Card Data: Growth Continued in August...
https://lao.ca.gov/LAOEconTax/Article/Detail/543

Income Tax Withholding Tracker: September 7 - September 11 [EconTax Blog]

Sep 11, 2020 - Income Tax Withholding Tracker: September 7 - September 11 [EconTax Blog] Income Tax Withholding Tracker: September 7 - September 11 September 11, 2020 Brian Uhler Bottom Line:   California income tax withholding has run slightly behind 2019 over the past two weeks.
https://lao.ca.gov/LAOEconTax/Article/Detail/541