Cannabis Tax Revenue Update: November 2023 [EconTax Blog]

Nov 30, 2023 - Proposition 64 created two excise taxes on cannabis: a retail excise tax and a cultivation tax. Chapter 56, Statutes of 2022 (AB 195, Committee on Budget) eliminated the cultivation tax on July 1, 2022.
https://lao.ca.gov/LAOEconTax/article/Detail/790

Cannabis Tax Revenue Update: November 2023 [EconTax Blog]

Nov 30, 2023 - Proposition 64 created two excise taxes on cannabis: a retail excise tax and a cultivation tax. Chapter 56, Statutes of 2022 (AB 195, Committee on Budget) eliminated the cultivation tax on July 1, 2022.
https://lao.ca.gov/LAOEconTax/Article/Detail/790

The 2023-24 California Spending Plan: Proposition 98 and K-12 Education

Nov 28, 2023 - The budget provides $632,000 to offset reductions in property tax revenue experienced by basic aid school districts affected by the Kincade Fire, a wildfire that burned in Sonoma County in the fall of 2019.
https://lao.ca.gov/Publications/Report/4818

How Does Tech Company Equity Pay Affect Income Tax Withholding? [EconTax Blog]

Nov 16, 2023 - State income tax withholding at Nvidia more than doubled over the same period. What Effect Has Boost in Equity Withholding Had on State Tax Receipts This Year? Income tax withholding receipts for 2022-23 were about 3 percent lower than a year before.
https://lao.ca.gov/LAOEconTax/Article/Detail/789

How Does Tech Company Equity Pay Affect Income Tax Withholding? [EconTax Blog]

Nov 16, 2023 - State income tax withholding at Nvidia more than doubled over the same period. What Effect Has Boost in Equity Withholding Had on State Tax Receipts This Year? Income tax withholding receipts for 2022-23 were about 3 percent lower than a year before.
https://lao.ca.gov/LAOEconTax/article/Detail/789

U.S. Retail Sales Update: October 2023 [EconTax Blog]

Nov 15, 2023 - U.S. retail sales have grown 1.5 percent over the last 3 months and 2.5 percent over the last 12 months. Retail sales growth has outpaced inflation over the last 3 months, but not over the last 12 months.
https://lao.ca.gov/LAOEconTax/Article/Detail/788

Local Sales Tax Revenue Allocation [Publication Details]

Nov 15, 2023 - Local Sales Tax Revenue Allocation [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/4815

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - Film Tax Credit Extends Film Tax Credit Program. The budget extends the film tax credit —which awards $330  million in credits annually to motion picture productions —for five years beginning in 2025-26 (Program 4.0).
https://lao.ca.gov/Publications/Report/4814

Funding for students attending private schools. [Ballot]

Nov 2, 2023 - Districts pay off these bonds over time with revenue increases generated by increasing their property tax rates. The other sources of local revenue include donations, parcel taxes, interest earnings, and developer fees.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-026

Managed care organization tax. [Ballot]

Oct 27, 2023 - Overview of MCO Tax California Taxes MCOs ’ Enrollment to Help Cover its Share of Medi-Cal Costs. One of the fund sources California currently uses to support Medi-Cal is a tax on MCOs known as the “MCO tax. ” California has had such a tax or fee for nearly 20 years.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-024