The 2020-21 Budget: Labor Agreements to Achieve Budgetary Savings

Sep 9, 2020 - The pay that employees receive in a typical pay period —salary plus EDWC —affects employee pension benefits and is subject to Medicare payroll taxes. (Employees in specialty classifications represented by Unit 8 —including foresters, forestry aids, and fire prevention specialists —are compensated more similarly to other state employees based on a 40-hour workweek.)
https://lao.ca.gov/Publications/Report/4267

Income Tax Withholding Tracker: August 31 - September 4 [EconTax Blog]

Sep 4, 2020 - Income Tax Withholding Tracker: August 31 - September 4 [EconTax Blog] Income Tax Withholding Tracker: August 31 - September 4 September 4, 2020 Brian Uhler Bottom Line:   California income tax withholding ran about even with 2019 this week after accounting for the timing of Labor Day .
https://lao.ca.gov/LAOEconTax/Article/Detail/539

An Update on California’s Cash Management Situation

Aug 31, 2020 - Agency Cash Versus Controller ’s Cash The state ’s main tax revenue agencies (namely, the Franchise Tax Board and the California Department of Tax and Fee Administration) collect tax payments and then transmit those payments to the State Controller ’s Office.
https://lao.ca.gov/Publications/Report/4266

Income Tax Withholding Tracker: August 24 - August 28 [EconTax Blog]

Aug 28, 2020 - Income Tax Withholding Tracker: August 24 - August 28 [EconTax Blog] Income Tax Withholding Tracker: August 24 - August 28 August 28, 2020 Brian Uhler Bottom Line:   California income tax withholding had a surprising surge this week, and total collections since late March are now 0.8 percent above  the comparable period in 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/535

Income Tax Withholding Tracker: August 17 - August 21 [EconTax Blog]

Aug 21, 2020 - Income Tax Withholding Tracker: August 17 - August 21 [EconTax Blog] Income Tax Withholding Tracker: August 17 - August 21 August 21, 2020 Brian Uhler Bottom Line:   California income tax withholding was about even with the same week in 2019, and total collections since late March likewise are about even with the comparable period in 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/527

State Tax Collections Update: April 2020 to July 2020 [EconTax Blog]

Aug 20, 2020 - State Tax Collections Update: April 2020 to July 2020 [EconTax Blog] Seth Kerstein Bottom Line. Total revenue collections for the state ’s three largest taxes —personal income tax (PIT), sales tax, and corporation tax —across April 2020 to July 2020 came in 9 percent ($4.3 billion) ahead of budget projections.
https://lao.ca.gov/LAOEconTax/Article/Detail/525

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: August 10-August 14 [EconTax Blog]

Aug 14, 2020 - Income Tax Withholding Tracker: August 10-August 14 [EconTax Blog] Income Tax Withholding Tracker: August 10-August 14 August 14, 2020 Brian Uhler Bottom Line:   California income tax withholding surged this week, pushing total collections since late March to within 0.9 percent of the comparable period in 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/522

U.S. Retail Sales: July 2020 [EconTax Blog]

Aug 14, 2020 - In addition to being a general economic indicator, U.S. retail sales can give us a rough sense of the trajectory of sales tax revenues. As noted in a recent post , we also are tracking sales tax performance with spending data from credit and debit cards.
https://lao.ca.gov/LAOEconTax/Article/Detail/520

What Threat Does Sea-Level Rise Pose to California?

Aug 10, 2020 - To the degree local property tax revenues drop, this also could affect the state budget in some years because the California Constitution could require that losses in certain local property tax revenues used to support local schools be backfilled by the state ’s General Fund.
https://lao.ca.gov/Publications/Report/4261