Tax Credit Expansions in the American Rescue Plan

Apr 13, 2021 - Child Tax Credit Under prior law, the CTC provided filers with income below $200,000 ($400,000 for joint filers) a credit of up to $2,000 for every dependent from ages 0 to 16, and up to $500 for dependents 17 and older.
https://lao.ca.gov/Publications/Report/4410

Taxation of Sugary Drinks

Nov 26, 2018 - As shown in Figure  3, for example, a one cent per ounce tax results in a tax of $0. 12 o n a can of cola and $0. 64 o n a large bottle of cranberry juice cocktail. For a given container size, this type of tax treats all sugary drinks equally, regardless of their sugar content or other characteristics.
https://lao.ca.gov/Publications/Report/3903

The 2018-19 Budget: California Hiring Tax Credits

Mar 15, 2018 - The proposed credit percentage would be 0  p ercent unless the Legislature sets it at a higher value in the annual budget act. This proposed change would allow the Legislature to annually reevaluate the credit percentage as part of the state budget process.
https://lao.ca.gov/Publications/Report/3784

Evaluation of a Sales Tax Exemption for Certain Manufacturers

Dec 11, 2018 - To obtain this estimate, Blue Sky and CAEATFA use an economic framework developed by Chirinko and Wilson (201 0) t o estimate the effects of state tax policies on manufacturers ’ capital investment. Although this framework is based on some simplifying assumptions, it is a reasonable starting point for analyzing the effects of the exemption.
https://lao.ca.gov/Publications/Report/3907

The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - For K ‑ 12 e ducation, the budget includes $1. 2  b illion for the Local Control Funding Formula, which reflects funding for the COLA offset by a 0. 3  p ercent attendance decline. For community colleges, the Governor ’s largest ongoing proposal is $ 199  m illion to cover the COLA and 0. 5  p ercent enrollment growth.
https://lao.ca.gov/Publications/Report/4135

How High? Adjusting California’s Cannabis Taxes

Dec 17, 2019 - Currently available information suggests that a potency ‑based tax in the range of $0. 006 t o $0. 009 p er milligram of THC could be appropriate, depending on how policymakers weigh the importance of reducing the illicit market versus raising revenues.
https://lao.ca.gov/Publications/Report/4125

The 2019-20 Budget: Analysis of Proposed Earned Income Tax Credit Expansion

Mar 6, 2019 - The structure of the Governor ’s proposal also would increase the benefit for a worker with one dependent working 20 hours a week at the minimum wage (income of $11,00 0) f rom $ 236 t o $691 (or to $1, 191 i f the dependent is under age six).
https://lao.ca.gov/Publications/Report/3960

Evaluation of the Property Tax Postponement Program

Oct 8, 2018 - Figure  5 shows that lower ‑income homeowners (those with incomes less than $35,50 0) i n counties with higher area median incomes tend to spend higher shares of their incomes on property tax payments.
https://lao.ca.gov/Publications/Report/3885

The 2019-20 Budget: Tax Conformity

Mar 6, 2019 - Previously, a filer with a sufficient amount of NOLs could reduce their taxable income to $0. Now, a filer may only reduce their taxable income by 80  p ercent. NOLs can now be carried forw ard indefinitely instead of expiring after 20 years.
https://lao.ca.gov/Publications/Report/3959

Options for Modifying the State Child Care Tax Credit

Apr 7, 2016 - Specifically, the credit percentages would remain 50  percent of the federal credit for filers with incomes between $0 and $40,000, 43  percent for incomes between $40,000 and $70,000, and 34  percent for incomes between $70,000 and $100,000.
https://lao.ca.gov/Publications/Report/3417