California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - They find that the quantile selection model developed by Arellano and Bonhomme (2017) noticeably outperforms the conventional weighting approach in this context. Accordingly, as described below, our wage percentile estimates are b ased on the Arellano and Bonhomme (2017) approach.
https://lao.ca.gov/Publications/Report/4878/4

The 2023-24 Budget: California's Film Tax Credit

Feb 28, 2023 - From 2017  to 2021, around $500  million in credits ($275  million from Program  2.0) have been claimed against corporation taxes. Over the same time period, around $300  million in credits were claimed against the sales tax.
https://lao.ca.gov/Publications/Report/4713

The 2019-20 Budget: Tax Conformity

Mar 6, 2019 - Federal PIT law previously limited the total amount of itemized deductions for higher ‑income tax filers (those above $261,500 for single filers and $313,800 for married filing jointly in 2017). The 2017 federal law suspended the federal limit on itemized deductions, mostly affecting the deductions for mortgage interest and charitable contributions.
https://lao.ca.gov/Publications/Report/3959

The 2018-19 Budget: Governor's Gann Limit Estimates

Apr 6, 2018 - Update the administration ’s school subvention calculations to reflect February 2017 data released by CDE. Reduce the SAL in 2016 ‑17, 2017 ‑18, and 2018 ‑19 to reflect shifts of the state limit to school districts.
https://lao.ca.gov/Publications/Report/3800

The 2017-18 Budget: The Board of Equalization

Mar 7, 2017 - The 2017-18 Budget: The Board of Equalization The 2017-18 Budget The Board of Equalization State Board of Equalization (BOE) Has Key Responsibilities for Many Taxes and Fees. BOE is headed by a five-member board, with four members directly elected by district, and the fifth —the State Controller —elected on a statewide basis.
https://lao.ca.gov/Publications/Report/3609

The 2018-19 May Revision: LAO Revenue Outlook

May 12, 2018 - Capital Gains Spike in 2017-18 and 2018-19. Preliminary Franchise Tax Board data show that net capital gains in 2016 totaled $110 billion. We estimate that net capital gains increase to $150 billion in 2017 and $162 billion in 2018, driven primarily by recent increases in stock market values.
https://lao.ca.gov/Publications/Report/3830

The 2019-20 Budget: Tax Conformity [Publication Details]

Mar 6, 2019 - The 2019-20 Budget: Tax Conformity [Publication Details] The 2019-20 Budget: Tax Conformity Format: HTML Description: The 2017 federal Tax Cuts and Jobs Act made significant changes to federal tax laws.
https://lao.ca.gov/Publications/Detail/3959

Assessing Recent Changes to California Competes

Mar 30, 2020 - For general information about the administration of California Competes, please refer to our October 2017 Review of the California Competes Tax Credit report. California Competes Cost $57   Million in 2018.
https://lao.ca.gov/Publications/Report/4213

The 2018-19 Budget: California’s New Tax Departments

Apr 4, 2018 - New Laws Funded OTA in 2017 ‑18. The new laws appropriated $ 5  m illion in 2017 ‑ 18 t o establish OTA. The new laws also gave the administration the authority to augment this appropriation using a transfer of funds from BOE ’s budget to OTA ’s budget with notification to the Legislature.
https://lao.ca.gov/Publications/Report/3796

The 2017-18 Budget: California Competes Tax Credit

Feb 27, 2017 - LAO Assessment Under Current Law, No New Tax Credits Negotiated After 2017-18. GO-Biz negotiated 212 California Competes tax credit agreements in 2014-15 and 259 agreements in 2015-16. We estimate that GO-Biz may negotiate a somewhat higher number in 2016-17 and 2017-18 because of unallocated tax credits from prior years.
https://lao.ca.gov/Publications/Report/3586