The 2018-19 Budget: California Hiring Tax Credits

Mar 15, 2018 - Additionally, to claim the existing credit, the employer must pay a new employee a starting wage of at least 150  p ercent of the state minimum wage —in 2018, for most businesses with more than 25 e mployees, that amount is $16. 50 p er hour.
https://lao.ca.gov/Publications/Report/3784

Income Mobility in California Across Generations

Jan 4, 2017 - Better Performance on Some School Metrics. Places that produce greater mobility tend to have schools with higher student test scores, lower student dropout rates, smaller class sizes, and more expenditures per student.
https://lao.ca.gov/Publications/Report/3518

Review of the California Competes Tax Credit

Oct 31, 2017 - While GO ‑Biz sets aside 25  percent of the available tax credits for small businesses, as required, too few qualified businesses have applied to California Competes to utilize all of those credits. Figure  6 shows the amount of tax credits available to small businesses and the amount actually awarded each year.
https://lao.ca.gov/Publications/Report/3709

Options for Modifying the State Child Care Tax Credit

Apr 7, 2016 - Proposition  98 establishes a minimum funding guarantee for schools and community colleges that is in part based on state revenue. When state revenue decreases, it is usually the case that required spending on schools decreases as well.
https://lao.ca.gov/Publications/Report/3417

The 2018-19 Budget: California Competes Proposal

Feb 21, 2018 - In addition, the proposal would: Reduce the amount of credits from $200  million per year to $180  million per year. Eliminate the requirement that 25  percent of the total amount of available credits be awarded to small businesses.
https://lao.ca.gov/Publications/Report/3759

The 2019-20 Budget: Tax Conformity

Mar 6, 2019 - The 2017 c hanges to federal tax laws extend this accounting flexibility to most businesses with gross receipts of less than $ 25  m illion. Previously there were various lower gross revenue thresholds ranging from $ 5  m illion to $ 10  m illion.
https://lao.ca.gov/Publications/Report/3959

Volatility of the Personal Income Tax Base

Feb 8, 2017 - This fund supports schools, universities, major health and social services programs, prisons, and other state ‑funded programs. In this brief, we compare the PIT tax base to personal income, a broad measure of the state ’s economy produced by the U.S.
https://lao.ca.gov/Publications/Report/3548

Long-term Capacity for Debt Payments Under Proposition 2

Dec 21, 2017 - The state owes “settle up ” to schools and community colleges when the formula-driven minimum funding level for K-14 education ends up larger than the amount initially included in the budget. Settle-up obligations incurred before July 1, 2014 are eligible for repayment under Proposition  2.
https://lao.ca.gov/Publications/Report/3727

Evaluating State Economic Stimulus Proposals

Feb 1, 2021 - The state uses bonds primarily to pay for the planning, construction, and renovation of infrastructure projects such as bridges, dams, prisons, parks, schools, and office buildings. The state is prohibited from borrowing money to finance state operations.
https://lao.ca.gov/Publications/Report/4331

The 2022-23 Budget: Temporary Limits on Business Tax Provisions

Jan 26, 2022 - Companies and individuals often incur operating losses associated with their business activities in some years. These companies are able to carry the net operating losses (NOLs) forward into future tax years and deduct NOLs from their operating income.
https://lao.ca.gov/Publications/Report/4500