Examining California's Income Tax Withholding Growth by Sector [EconTax Blog]

Jun 9, 2021 - The next graph compares year over year job growth to average 2019 withholding for all 75 sectors mentioned above. There was no systematic relationship between a sector ’s average withholding and its job growth.
https://lao.ca.gov/LAOEconTax/Article/Detail/662

Cannabis Tax Revenue Update [EconTax Blog]

Jun 2, 2021 - The administration currently estimates that retail excise tax revenue was $132 million and cultivation tax revenue was $31 million in the third quarter of fiscal year 2020-21 (January through March).
https://lao.ca.gov/LAOEconTax/Article/Detail/661

Income Tax Withholding Tracker: May 1 - May 28 [EconTax Blog]

May 28, 2021 - The final graph compares the state ’s year over year percent change in cumulative withholding in 2020-21 to the nation ’s withholding from the federal income tax, and shows that state collections have maintained a faster pace for months.
https://lao.ca.gov/LAOEconTax/Article/Detail/660

May 2021 Cap-and-Trade Auction Update [EconTax Blog]

May 28, 2021 - Allowances sold for $18.80 for 2021 vintage allowances and $19.04 for 2024 vintage allowances, which are roughly $1 more than the prices at the February auction. The May prices were also more than $1 above the auction floor price established by CARB ($17.71 for both vintages).
https://lao.ca.gov/LAOEconTax/Article/Detail/659

New Business Creation by Sector [EconTax Blog]

May 27, 2021 - Despite these differences, a ll five sectors have followed the same broad monthly pattern over the past year, with big increases in the summer of 2020 and the beginning of 2021.  
https://lao.ca.gov/LAOEconTax/Article/Detail/658

Despite Fiscal Forecasting Uncertainties, Multiyear Budget Planning Essential

May 27, 2021 - This manifests in operating deficits that persist through the outlook horizon (2024‑25). Adopting a budget with this combination of assumptions is inadvisable in our view. One reason is that—given the state’s balanced-budget requirement—doing so requires assuming that the multiyear budget projections are wrong.
https://lao.ca.gov/Publications/Report/4443

Despite Fiscal Forecasting Uncertainties, Multiyear Budget Planning Essential [Publication Details]

May 27, 2021 - This manifests in operating deficits that persist through the outlook horizon (2024‑25). Adopting a budget with this combination of assumptions is inadvisable in our view. One reason is that—given the state’s balanced-budget requirement—doing so requires assuming that the multiyear budget projections are wrong.
https://lao.ca.gov/Publications/Detail/4443

Repaying the State’s Federal Unemployment Insurance Loan

May 26, 2021 - The federal UI tax rate continues to increase by increments of 0.3  percentage points each year until the loans are fully repaid, at which point the federal tax returns to its usual rate of 0.6  percent.
https://lao.ca.gov/Publications/Report/4442

Comparing LAO and May Revision Estimates of the Proposition 98 Guarantee [EdBudget]

May 25, 2021 - Comparing LAO and May Revision Estimates of the Proposition 98 Guarantee [EdBudget]     a The May Revision proposes to adjust the minimum guarantee upward ("rebench") for the expansion of transitional kindergarten to all four-year old children by 2024-25.
https://lao.ca.gov/Education/EdBudget/Details/514

LAO May Outlook Estimates of Proposition 98 Guarantee [EdBudget]

May 25, 2021 - a The May Revision proposes to adjust the minimum guarantee upward ("rebench") for the expansion of transitional kindergarten to all four-year old children by 2024-25. The estimates of the guarantee in this table exclude this adjustment.
https://lao.ca.gov/Education/EdBudget/Details/513