The Property Tax Inheritance Exclusion

Oct 9, 2017 - In 1986, voters approved Proposition   58 —a legislative constitutional amendment —which excludes certain property transfers between parents and children from reassessment. A decade later, Proposition  193 extended this exclusion to transfers between grandparents and grandchildren if the grandchildren ’s parents are deceased.
https://lao.ca.gov/Publications/Report/3706

Building Reserves to Prepare for a Recession

Mar 7, 2018 - Budget Stabilization Account Proposition   58 Governed BSA From 2004 t o 2014. Until 2014, the BSA was governed by Proposition  58. Passed by voters in 2004, Proposition   58 r equired the state to make an annual transfer into the BSA.
https://lao.ca.gov/Publications/Report/3769

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

^[PDF] Building Reserves to Prepare for a Recession

Proposition 58 allowed these deposits to be suspended by an executive order issued by the Governor. Between 2004 and 2014 only two transfers were made to the BSA under the provisions of Proposition 58.
https://lao.ca.gov/reports/2018/3769/prepare-for-recession-030718.pdf

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

Firearms and Ammunition Revenue Update (2025 Q2) [EconTax Blog]

Aug 18, 2025 - The recently enacted budget package assumed that 2024-25 revenue would be $65 million. Preliminary Total for 2024-25: $58 Million. For firearm and ammunition excise tax returns filed for 2024-25, the total amount of tax due is $58 million —a bit lower than the budget package revenue assumption.
https://lao.ca.gov/LAOEconTax/Article/Detail/836

Firearms and Ammunition Revenue Update (2025 Q3) [EconTax Blog]

Nov 18, 2025 - We described this tax in more detail in a February post . 2024-25 Total Much Lower Than Original Estimate. As Chapter 231 went through the legislative policy process, the administration preliminarily estimated that the new firearm and ammunition excise tax would raise $159 million in 2024-25.
https://lao.ca.gov/LAOEconTax/article/Detail/842

Firearms and Ammunition Revenue Update (2025 Q3) [EconTax Blog]

Nov 18, 2025 - We described this tax in more detail in a February post . 2024-25 Total Much Lower Than Original Estimate. As Chapter 231 went through the legislative policy process, the administration preliminarily estimated that the new firearm and ammunition excise tax would raise $159 million in 2024-25.
https://lao.ca.gov/LAOEconTax/Article/Detail/842

^[PDF] California's Tax Expenditure Programs: Income Taxes

Figure 3 Bank and Corporation Tax Rates General Corporation Rate Minimum Taxa 1929-34 2.00% $25 1935-42 4.00 25 1943-49 3.40 25 1950-58 4.00 25 1959-66 5.50 100 1967-71 7.00 100 1972 7.60 200 1973 8.30 200 1974-79 9.00 200 1980-81 9.60 200 1982-86 9.60 200 1987-88 9.30 300 1989 9.30 600 1990-96 9.30 800 1997 to present 8.84 800 a Beginning in 1998, new small corporations pay a minimum tax below this amount.
https://lao.ca.gov/1999/tax_expenditure_299/tep_299_income_tax.pdf