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

Home Prices Update: July 2021 [EconTax Blog]

Aug 25, 2021 - The graph below shows appreciation over the past 12 months for the state ’s 15 largest counties, and suggests that the shift to remote work has been a key factor in recent price changes. San Francisco has long been northern California ’s largest business hub, and historically a large share of its work force has commuted in from other counties.
https://lao.ca.gov/LAOEconTax/Article/Detail/689

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

Building Permits Update: June 2021 [EconTax Blog]

Aug 5, 2021 - Los Angeles County permitted the most units as usual, followed distantly by San Diego County. Nonresidential construction permit remains historically weak. June ’s total of $1.267 billion was above April and May, but below any other month since 2013.
https://lao.ca.gov/LAOEconTax/Article/Detail/682

Home Prices Update: June 2021 [EconTax Blog]

Jul 28, 2021 - All the other large counties in the state are up at least 15 percent. Source: Zillow
https://lao.ca.gov/LAOEconTax/Article/Detail/681

Income Tax Withholding Tracker: July 1 - July 23 [EconTax Blog]

Jul 23, 2021 - Income Tax Withholding Tracker: July 1 - July 23 [EconTax Blog] Income Tax Withholding Tracker: July 1 - July 23 July 23, 2021 Brian Uhler Bottom Line: California income tax withholding collections in July to date are 17.8 percent above July 2020.
https://lao.ca.gov/LAOEconTax/Article/Detail/679

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

Jul 16, 2021 - U.S. retail sales (seasonally adjusted) grew 0.6 percent from May to June. Retail sales remain elevated due to dramatic growth in January and March.
https://lao.ca.gov/LAOEconTax/Article/Detail/677