Income Tax Withholding Tracker: July 1 - July 23 [EconTax Blog]

Jul 23, 2021 - In July 2019, four in-state companies went public through the 23 rd , with only Medallia valued above $1 billion. The next graph shows July federal income tax withholding in 2020 and 2021. Through the 21 st , federal withholding was up 15.8 percent from last year, slightly below the state ’s pace.  
https://lao.ca.gov/LAOEconTax/Article/Detail/679

Proposition 98 Key Inputs and Outcomes Under 2021-22 Budget Package [EdBudget]

Jul 21, 2021 - Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656 | information [at] lao.ca.gov
https://lao.ca.gov/Education/EdBudget/Details/517

June 2021 Jobs Report [EconTax Blog]

Jul 16, 2021 - The figure below shows how employment has evolved in both the state and the nation since the start of the pandemic. Overall employment in the state as of the middle of June  was 7.0 percent below the level of February 2020, considerably worse than the national figure of 4.4 percent.
https://lao.ca.gov/LAOEconTax/Article/Detail/678

California New Business Creation: June 2021 [EconTax Blog]

Jul 12, 2021 - California New Business Creation: June 2021 [EconTax Blog] California New Business Creation: June 2021 July 12, 2021 Brian Uhler The extent of new business creation in California can be a useful gauge of the health of the state ’s economy.
https://lao.ca.gov/LAOEconTax/Article/Detail/676

Net Taxpayer Outmigration Increased During 2017-2019 [EconTax Blog]

Jul 6, 2021 - For context, the state ’s net outflow of 165,355 between 2018 and 2019 represented 0.52 percent of the state ’s 2018 filer population of 31.7 million.           A key driver of migration between California and other states is living costs, particularly the cost of housing.
https://lao.ca.gov/LAOEconTax/Article/Detail/675

Building Permits Update: May 2021 [EconTax Blog]

Jul 5, 2021 - Building Permits Update: May 2021 [EconTax Blog] Building Permits Update: May 2021 July 5, 2021 Brian Uhler California recorded 9,291 housing permits in May, up 44 percent from May 2020 when much of the state was still locked down.
https://lao.ca.gov/LAOEconTax/Article/Detail/673

Annual Report on Tax Exemptions for Medicinal Cannabis

Jul 1, 2021 - The data come from the state ’s Metrc “track and trace” system for licensed cannabis. In particular, the data reflect transactions that businesses identified as medicinal donations in calendar year 2020.
https://lao.ca.gov/Publications/Report/4447

1st Quarter 2021 Personal Income Report [EconTax Blog]

Jun 28, 2021 - Benefits include employer-paid contributions for health insurance and pensions. Transfer payments are defined as government payments that don ’t represent compensation for services performed by the recipient.
https://lao.ca.gov/LAOEconTax/Article/Detail/671

Income Tax Withholding Tracker: June 1-June 25 [EconTax Blog]

Jun 25, 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/670

The 2021-22 Budget: Labor Agreements Ending Personal Leave Program 2020

Jun 25, 2021 - Under the current MOU, any amount of the 2019 ‑20 Unit 5 salary increase above 3  percent was redirected as an employee contribution towards pension benefits. This contribution was in addition to what the state and employees otherwise would contribute to the pension system, meaning that the contribution was a supplemental pension contribution that paid down unfunded liabilities.
https://lao.ca.gov/Publications/Report/4446