February 2018 State Tax Collections [EconTax Blog]

Mar 2, 2018 - February 2018 State Tax Collections [EconTax Blog] Seth Kerstein This post describes preliminary collections from the state ’s three main taxes —the personal income tax (PIT), sales and use tax, and the corporation tax.
https://lao.ca.gov/LAOEconTax/Article/Detail/268

The 2018-19 Budget: Fire Recovery Proposals

Mar 1, 2018 - For 2018 ‑19, the Governor proposes a total of $35  million from the General Fund for recovery costs associated the fires in Northern California, such as related to rebuilding public infrastructure and backfilling local tax revenue losses.
https://lao.ca.gov/Publications/Report/3767

The 2018-19 Budget: The Administration’s Proposition 55 Estimates

Mar 1, 2018 - Proposition 55 (2016) aimed to increase funding for Medi-Cal under a formula administered by the Department of Finance. In 2018-19, the first year of implementation of this calculation, the administration’s interpretations and estimates result in no additional funds to Medi-Cal. Two key choices lead to this result. First, the administration’s decision to subtract $3.
https://lao.ca.gov/Publications/Report/3765

The 2018-19 Budget: The Administration’s Proposition 55 Estimates [Publication Details]

Mar 1, 2018 - Proposition 55 (2016) aimed to increase funding for Medi-Cal under a formula administered by the Department of Finance. In 2018-19, the first year of implementation of this calculation, the administration’s interpretations and estimates result in no additional funds to Medi-Cal. Two key choices lead to this result. First, the administration’s decision to subtract $3.
https://lao.ca.gov/Publications/Detail/3765

The 2018-19 Budget: Fire Recovery Proposals [Publication Details]

Mar 1, 2018 - For 2018‑19, the Governor proposes a total of $35 million from the General Fund for recovery costs associated the fires in Northern California, such as related to rebuilding public infrastructure and backfilling local tax revenue losses.
https://lao.ca.gov/Publications/Detail/3767

California Losing Residents Via Domestic Migration [EconTax Blog]

Feb 21, 2018 - The graph below shows data from the Internal Revenue Service on the movement of income tax filers in and out of California since 1990. (Data on tax filers does not cover the entire population because some people do not earn enough income to necessitate filing taxes.)
https://lao.ca.gov/LAOEconTax/Article/Detail/265

The 2018-19 Budget: California Competes Proposal

Feb 21, 2018 - Tax Agency Reviews Credit Claims. If a business meets their agreement milestones, they may notify GO-Biz and claim the tax credit when they file their income taxes. After the business files their tax return, the Franchise Tax Board (FTB) reviews the tax credit agreement and supporting
https://lao.ca.gov/Publications/Report/3759

The 2018-19 Budget: California Competes Proposal [Publication Details]

Feb 21, 2018 - The Governor proposes extending the California Competes tax credit for five years. We recommend rejecting the administration’s proposal to extend the California Competes tax credit because of problems that are inherent in and unavoidable for these types of programs. If the Legislature chooses to extend California Competes, we offer several suggestions that may alleviate some of its problems.
https://lao.ca.gov/Publications/Detail/3759

The 2018-19 Budget: Department of General Services

Feb 20, 2018 - The proposed tenants of the new building include the California Department of Tax and Fee Administration (CDTFA); the Board of Equal ization (BOE); and various departments within the Business, Consumer Services, and Housing Agency (such as the Department of Consumer Affairs).
https://lao.ca.gov/Publications/Report/3758

The 2018-19 Budget: Analysis of the Health and Human Services Budget

Feb 16, 2018 - In 2011, the state enacted legislation known as 2011 r ealignment, which dedicated a portion of the state ’s sales tax to counties to administer CWS. The 2018 ‑ 19 b udget projects that nearly $2. 5  b illion will be available from realignment revenues to fund CWS programs in 2018 ‑19.
https://lao.ca.gov/Publications/Report/3757