October 2018 State Tax Collections [EconTax Blog]

Nov 13, 2018 - October 2018 State Tax Collections [EconTax Blog] Carolyn Chu Collections Fall Short of Projections Due to Processing Issues. Due to issues related to withholding timing and the new sales tax IT system , October revenues shown below fall short of projections by $683 million.
https://lao.ca.gov/LAOEconTax/Article/Detail/324

Proposition 3 [Ballot]

Nov 6, 2018 - These investors would be repaid with interest using the state ’s General Fund tax revenues. The cost of these bonds would depend on various factors —such as the interest rates in effect at the time they are sold, the timing of bond sales, and the time period over which they are repaid.
https://lao.ca.gov/BallotAnalysis/Proposition?number=3&year=2018

Proposition 10 [Ballot]

Nov 6, 2018 - The measure ’s economic effects would affect property tax, sales tax, and income tax revenues. The largest and most likely impacts are: Less Property Taxes Paid by Landlords. A decline in the value of rental properties would, over several years, lead to a decrease in property tax payments made by owners of those properties.
https://lao.ca.gov/BallotAnalysis/Proposition?number=10&year=2018

Proposition 12 [Ballot]

Nov 6, 2018 - Summary of Legislative Analyst ’s Estimate of Net State and Local Government Fiscal Impact Potential decrease in state income tax revenues from farm businesses, likely not more than several million dollars annually.
https://lao.ca.gov/BallotAnalysis/Proposition?number=12&year=2018

Proposition 4 [Ballot]

Nov 6, 2018 - The repayment of these bonds is guaranteed by the state ’s general taxing power. The state repays general obligation bonds from the General Fund, the state ’s main operating account. (For more information on the state ’s use of bonds, see “An Overview of State Bond Debt ” later in this guide.)
https://lao.ca.gov/BallotAnalysis/Proposition?number=4&year=2018

Proposition 5 [Ballot]

Nov 6, 2018 - Other Taxes on Home Purchases.   Cities and counties collect taxes on the transfer of homes and other real estate. Statewide, transfer taxes raise around $1  billion for cities and counties. Counties Administer the Property Tax.  
https://lao.ca.gov/BallotAnalysis/Proposition?number=5&year=2018

Proposition 6 [Ballot]

Nov 6, 2018 - The voters —through the initiative process —can pass new taxes or increase existing taxes without the Legislature ’s involvement. State Fuel and Vehicle Taxes Fuel Taxes. The state charges excise taxes on gasoline and diesel fuel.
https://lao.ca.gov/BallotAnalysis/Proposition?number=6&year=2018

Proposition 2 [Ballot]

Nov 6, 2018 - The act provides funding for various county mental health services by increasing the income tax paid by those with income above $1  million. This income tax increase raises $1.5  billion to $2.5  billion per year.
https://lao.ca.gov/BallotAnalysis/Proposition?number=2&year=2018

Proposition 8 [Ballot]

Nov 6, 2018 - Changes to State Tax Revenues. To the extent the measure ’s rebate provisions operate to reduce the net income of CDC owner/operators, the measure would likely reduce the amount of income taxes that for-profit owner/operators are required to pay to the state.
https://lao.ca.gov/BallotAnalysis/Proposition?number=8&year=2018

Rethinking the 1991 Realignment

Oct 15, 2018 - Step Two: Sales Tax Growth to IHSS. One of the permanent changes made to 1991 r ealignment in the 2017 ‑18 Budget Act was to prioritize the use of any increases in sales tax revenue for IHSS costs. As a result, any year ‑over ‑year increase in sales tax revenue first is allocated to counties ’ IHSS costs (through the Social Services Subaccount).
https://lao.ca.gov/Publications/Report/3886