The 2017-18 Budget: The Governor's Cannabis Proposals

Feb 14, 2017 - For example, if licensing entities are significantly delayed in issuing new licenses, there may be limited tax collections and reduced need for BOE tax administration staff in the budget year. Federal Enforcement of Cannabis Laws Uncertain.
https://lao.ca.gov/Publications/Report/3556

The 2017-18 Budget: The Governor's Cannabis Proposals [Publication Details]

Feb 14, 2017 - Additionally, the Legislature will need to determine the staff and other resources to provide to the various agencies charged with regulating and taxing the cannabis industry. We recommend the Legislature (1) work with the administration to enact legislation to align the regulation of medical and nonmedical cannabis to the maximum extent possible, (2) make its decisions on the
https://lao.ca.gov/Publications/Detail/3556

The 2017-18 Budget: Cap-and-Trade

Feb 13, 2017 - Opportunities to Reduce Taxes. Auction revenue can be used to provide economic benefits. For example, in theory revenue could be used to reduce broad ‑based taxes (such as income or sales taxes), which could help reduce negative impact on economic activity.
https://lao.ca.gov/Publications/Report/3553

The 2017-18 Budget: Cap-and-Trade [Publication Details]

Feb 13, 2017 - We also recommend the Legislature approve cap-and-trade (or carbon tax) with a two-thirds vote because it would provide greater legal certainty and ensure ARB has the ability to design an effective program.
https://lao.ca.gov/Publications/Detail/3553

The 2017-18 Budget: County Offices of Education and The Minimum State Aid Provision

Feb 10, 2017 - Under the LCFF for COEs (similar to school districts), local property tax is counted first for meeting each COE ’s overall LCFF allotment, with the state making up any gap. In a county where local property tax revenue is sufficient to fund all of its LCFF allotment, the state still must provide its minimum state aid allotment.
https://lao.ca.gov/Publications/Report/3554

Volatility of the Personal Income Tax Base

Feb 8, 2017 - California’s PIT Tax Base The tax base used by California for its personal income tax is similar to the federal government ’s, but is set in state law. Figure  2 summarizes the major components of the state ’s PIT tax base as reported on federal and state tax forms.
https://lao.ca.gov/Publications/Report/3548

Volatility of the Personal Income Tax Base [Publication Details]

Feb 8, 2017 - On the other hand, California's personal income tax (PIT) base was much more volatile. This is because (1) some of the more stable pieces of personal income are not taxed under California's PIT and (2) the PIT tax base includes capital gains, which are extremely volatile and are not counted as part of personal income in federal statistics.
https://lao.ca.gov/Publications/Detail/3548

Re-Envisioning County Offices of Education: A Study of Their Mission and Funding

Feb 6, 2017 - Like the school district LCFF, the COE LCFF is funded by a combination of state General Fund and local property tax revenue, with the proportion of each fund source varying by county. COEs have flexibility to use all LCFF funds (from either part of the formula) for any purpose.
https://lao.ca.gov/Publications/Report/3547

Improving California's Regulatory Analysis

Feb 3, 2017 - For example, the Governor ’s Office of Business and Economic Development (GO ‑Biz) estimated the economic effects of a regulation to implement the California Competes Tax Credit, which was established by the Legislature and provides up to $200  million in annual tax credits for businesses.
https://lao.ca.gov/Publications/Report/3542

The 2017-18 Budget: Department of Justice

Jan 31, 2017 - Proposition  56, which was approved by the voters in November 2016, increases the state excise tax on cigarettes and other tobacco products (including e-cigarettes). The measure requires that the revenues from the increased tax be used to support various specified purposes.
https://lao.ca.gov/Publications/Report/3543