The 2015-16 Budget: Cigarette Tax and Licensing Programs [Publication Details]

Apr 22, 2015 - Recently, there has been considerable legislative interest in the cost of these programs, which are administered by the State Board of Equalization (BOE). The Legislature faces two key decisions: (1) how to pay for BOE’s cigarette and tobacco programs, and (2) how much to spend on them.
https://lao.ca.gov/Publications/Detail/3239

The 2026-27 Budget: State Mandate—Disclosure Requirements and Deferral of Property Taxation

Feb 19, 2026 - Chapter  712 required Los Angeles County to defer (pause) property owners ’ property tax payments (without penalty or interest) while their claim was being processed. Chapter  712 required property owners to request a deferment from the county within one year of receiving their first tax bill for the property, but before January 1, 2024.
https://lao.ca.gov/Publications/Report/5130

The 2019-20 Budget: Tax Conformity

Mar 6, 2019 - (The Franchise Tax Board [FTB], which administers state income tax laws, annually prepares a Summary of Federal Income Tax Changes . This annual report provides full descriptions of all the federal conformity items and details all of the technical conformity implications of each federal change.)
https://lao.ca.gov/Publications/Report/3959

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - However, since the lag between the credit agreement and the outcomes of interest can be up to several years, we do not yet have the economic data to evaluate the most recent rounds of awards. Credit Recapture and Recycling Credits Can Be Reclaimed if Milestones Not Met or Maintained.
https://lao.ca.gov/Publications/Report/5162

Evaluation of the Property Tax Postponement Program

Oct 8, 2018 - At the time, PTP was administered by both SCO and the Franchise Tax Board (FTB). Eligibility Expanded to People Who Are Blind or Disabled in 1984. In 1984, the Legislature placed another constitutional amendment on the ballot, this time expanding its authority to provide for the deferral of property tax payments by people who are blind or disabled.
https://lao.ca.gov/Publications/Report/3885

Fixing Unemployment Insurance

Dec 2, 2024 - This means that businesses could face a perpetually outstanding federal loan, on which the state must make interest payments. These interest costs will be significant, likely around $1  billion per year, and paid by the state ’s taxpayers.
https://lao.ca.gov/Publications/Report/4943

The 2020-21 Budget: Expanding the Minimum Franchise Tax Exemption

Mar 23, 2020 - However, the Franchise Tax Board (FTB) reports that only about three ‑quarters of new corporations claim the exemption because many new corporations do not understand their tax filing requirements. Overall, the exemption reduced state revenue by $ 60  m illion in 2017 (the most recent year for which data are available).
https://lao.ca.gov/Publications/Report/4207

The 2020-21 May Revision: Revenue Proposals in the 2020-21 May Revision

May 20, 2020 - Eliminate Mortgage Interest Deduction for Second Homes. The mortgage interest deduction is not limited to interest paid on a taxpayer ’s primary residence. Taxpayers also can deduct interest paid for vacation homes and other second homes, as long as they are not used to generate rental income.
https://lao.ca.gov/Publications/Report/4238

Volatility of the Personal Income Tax Base

Feb 8, 2017 - Dividends, Interest, and Rent. BEA ’s personal income measure includes cash payments of dividends, interest, and rent. It also includes two categories of income —called imputed rent and imputed interest —that do not directly give people more cash to spend.
https://lao.ca.gov/Publications/Report/3548

Community Land Trust Property Tax Exemption

Dec 20, 2024 - The Board of Equalization has requested information from counties about community land trust properties each year since 2020. Results from this survey are summarized in Figure  1. These results are somewhat limited, as some counties responded in some years and not others and other counties did not respond at all.
https://lao.ca.gov/Publications/Report/4946