Income Tax Withholding Tracker: September 7 - September 11 [EconTax Blog]

Sep 11, 2020 - Income Tax Withholding Tracker: September 7 - September 11 [EconTax Blog] Income Tax Withholding Tracker: September 7 - September 11 September 11, 2020 Brian Uhler Bottom Line:   California income tax withholding has run slightly behind 2019 over the past two weeks.
https://lao.ca.gov/LAOEconTax/Article/Detail/541

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

Building Permits Update: July 2020 [EconTax Blog]

Aug 31, 2020 - Nearly 60 percent of the state total came from just two counties: Los Angeles, which recorded its biggest monthly total since January, and Santa Clara, which had its biggest month since 2018. Nonresidential construction permits were slightly lower in July than in June.
https://lao.ca.gov/LAOEconTax/Article/Detail/536

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

Home Prices Update: July 2020 [EconTax Blog]

Aug 25, 2020 - The graph below shows appreciation over the past 12 months for the state ’s 15 largest counties. Santa Clara County shows the highest home price growth among this group, although its Bay Area neighbors Alameda, Contra Costa, San Francisco, and San Mateo have all lagged far behind the state ’s other large counties.
https://lao.ca.gov/LAOEconTax/Article/Detail/533

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