Why is Venture Capital Funding a Useful Economic Indicator? [EconTax Blog]

Feb 18, 2021 - Many California firms th at relied on VC funding at various stages of their development went public in 2020, and this contributed to surprisingly strong growth in personal income tax revenue despite the deep recession caused by the pandemic.  
https://lao.ca.gov/LAOEconTax/Article/Detail/626

Temporary extension of Proposition 30 income tax increases (Amendment No. 1). [Ballot]

Nov 3, 2015 - The proposal extends tempo rary personal income tax (income tax) rate increases on high-income taxpayers that were approved as part of Proposition  30 in 2012. Background California ’s State Budget. California state taxes —primarily income taxes —are spent mainly from the state government ’s General Fund.
https://lao.ca.gov/BallotAnalysis/Initiative/2015-065

Homeowners and renters tax relief. [Ballot]

Jun 22, 2015 - Background Local Governments in California Levy Taxes on Property Owners. Local governments in California levy taxes on property owners based on a property ’s assessed value, known as ad  valorem property taxes.
https://lao.ca.gov/BallotAnalysis/Initiative/2015-028

A New Method For Current Year Revenue Forecasting [EconTax Blog]

Sep 20, 2021 - To fill this void, our office recently developed a model to provide a monthly update of the forecast of current year collections from the state ’s “big three ” revenues (personal income, sales, and corporation taxes).
https://lao.ca.gov/LAOEconTax/Article/Detail/696

Groundwater Preservation and Water Consumer Awareness Act of 2015 [Ballot]

Jun 9, 2015 - Background Sales and Use Taxes and Excise Taxes. California ’s state and local governments levy sales and use taxes on retail sales of most tangible goods. Under the State Constitution and state statute, many foods and beverages —including bottled water —are currently exempt from California ’s state and local sales and use taxes.
https://lao.ca.gov/BallotAnalysis/Initiative/2015-021

Snapshot of the California Economy: December 2020 [EconTax Blog]

Feb 4, 2021 - One the one hand, payrolls (as measured by state income tax withholding, which is disproportionately tied to earnings of higher-income individuals) and stock prices reached new highs in December. On the other hand, total employment in the state dropped slightly in December, unemployment remained widespread, and spending on restaurants and entertainment remains sever ely depressed.  
https://lao.ca.gov/LAOEconTax/Article/Detail/619

Proposed statutory initiative that would increase excise taxes on the distribution of cigarettes and other tobacco products. It also creates a new excise tax on the distribution of electronic cigarett

Jun 23, 2015 - Tobacco and E-Cigarette Taxes Tobacco products are subject to state and federal excise taxes, and state and local sales and use taxes. In contrast, e-cigarettes are currently not subject to state and federal excise taxes but are subject to state and local sales and use taxes.
https://lao.ca.gov/BallotAnalysis/Initiative/2015-029

Issues That Could Impact Californians' Health Care Coverage in 2023 and Beyond

Dec 16, 2022 - As part of the federal Tax Cuts and Jobs Act of 2017, Congress effectively eliminated the federal individual mandate by setting the penalty for violating the coverage requirement to zero beginning in 2019.
https://lao.ca.gov/Publications/Report/4654

Personal income taxes and funding for education and health programs (Amendment No. 1). [Ballot]

Nov 10, 2015 - Figure 1 summarizes income tax rates under current law , including Proposition 30 ’s temporary tax increases. After Proposition 30 expires, current law provides for a 9.3 percent top marginal income tax rate (not counting a 1 percent tax rate on taxable income i n excess of $1 million for mental health programs).
https://lao.ca.gov/BallotAnalysis/Initiative/2015-070

Extend temporary personal income tax rate increases on high-income taxpayers (Amendment #1). [Ballot]

Jan 25, 2016 - Income Taxes. Proposition  30 also increased marginal income tax rates paid by roughly the 1  percent of tax filers in the state with the highest incomes. Depending on their taxable income levels, these filers pay an extra 1 percent, 2 percent, or 3  percent tax on part of their incomes.
https://lao.ca.gov/BallotAnalysis/Initiative/2015-115