The 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - If the Legislature wants to make different decisions about this spending (without statutory changes or fund shifts), it can either: (1)  use the funds to make tax rebates and additional payments to schools, (2)  spend on other SAL-excluded purposes, or (3)  use the funds to reduce taxes.
https://lao.ca.gov/Publications/Report/4432

California's First Film Tax Credit Program - California's First Film Tax Credit Program (Part 2 of 4) [Video]

California's First Film Tax Credit Program - California's First Film Tax Credit Program (Part 2 of 4) [Video] California 's First Film Tax Credit Program (Part 1 of 4) California 's First Film Tax Credit Program (Part 2 of 4) California 's First Film Tax Credit Program (Part 3 of 4) California 's First Film
https://lao.ca.gov/Videos/Player?playlistId=104&videoId=156

California's First Film Tax Credit Program - California's First Film Tax Credit Program (Part 3 of 4) [Video]

California's First Film Tax Credit Program - California's First Film Tax Credit Program (Part 3 of 4) [Video] California 's First Film Tax Credit Program (Part 1 of 4) California 's First Film Tax Credit Program (Part 2 of 4) California 's First Film Tax Credit Program (Part 3 of 4) California 's First Film
https://lao.ca.gov/Videos/Player?playlistId=104&videoId=157

California's First Film Tax Credit Program - California's First Film Tax Credit Program (Part 4 of 4) [Video]

California's First Film Tax Credit Program - California's First Film Tax Credit Program (Part 4 of 4) [Video] California 's First Film Tax Credit Program (Part 1 of 4) California 's First Film Tax Credit Program (Part 2 of 4) California 's First Film Tax Credit Program (Part 3 of 4) California 's First Film
https://lao.ca.gov/Videos/Player?playlistId=104&videoId=158

California's First Film Tax Credit Program - California's First Film Tax Credit Program (Part 1 of 4) [Video]

California's First Film Tax Credit Program - California's First Film Tax Credit Program (Part 1 of 4) [Video] California 's First Film Tax Credit Program (Part 1 of 4) California 's First Film Tax Credit Program (Part 2 of 4) California 's First Film Tax Credit Program (Part 3 of 4) California 's First Film
https://lao.ca.gov/Videos/Player?playlistId=104

The 2019-20 May Revision: Initial Comments on the Governor’s May Revision

May 12, 2019 - We believe this increase in revenues likely is a one-time event in response to federal tax changes in 2017. Some Tax Policy Changes. The increase in revenues, including in PT and CT, also reflects some changes to tax policy and assumptions about the effects of those changes.
https://lao.ca.gov/Publications/Report/4039

The 2018-19 May Revision: LAO Revenue Outlook

May 12, 2018 - (Corporations previously avoided paying federal tax on these profits by holding them overseas.) Once this one-time tax is paid, corporations may bring these profits back to the U.S. any time (without paying any additional federal taxes).
https://lao.ca.gov/Publications/Report/3830

The 2020-21 Budget: California's Fiscal Outlook

Nov 20, 2019 - Importantly, this scenario assumes the federal government approves the managed care organization (MCO) tax and the state faces no major disasters over the next few years. (The MCO tax offsets General Fund costs in Medi ‑Cal but it requires federal approval.)
https://lao.ca.gov/Publications/Report/4111

COVID-19 and California’s Evolving Fiscal Outlook

Mar 18, 2020 - Volatile Financial Markets Indicate Lower Capital Gains-Related Tax Revenue Taxes on capital gains are a significant source of state revenue. Even in “normal ” times, capital gains income is difficult to forecast because it correlates with stock market performance.
https://lao.ca.gov/Publications/Report/4203

Amid Good Fiscal Times, Planning for the Future Is Crucial

May 21, 2019 - The most immediate effect of IPOs on state tax revenues is in the personal income tax from wage withholding —in particular, from the newly public companies ’ vesting of their restricted stock units. Proposition  2, which establishes rules for mandatory reserve deposits, includes a provision that captures surging capital gains-related tax revenues.
https://lao.ca.gov/Publications/Report/4051