The 2019-20 Budget: Tax Conformity

Mar 6, 2019 - Restricts Like ‑Kind Exchanges. Tax filers may defer paying PIT and CT on capital gains from sales of certain types of property if they purchase a similar type of property within 180 days. The 2017 federal changes restricted these “like ‑kind exchanges ” rules to apply only to real estate.
https://lao.ca.gov/Publications/Report/3959

The 2019-20 Budget: California Spending Plan—Conformity

Oct 17, 2019 - However, when property is eventually sold and not exchanged, tax is owed on the entire amount of the accumulated gains. The change in state tax law eliminates like-kind exchanges of personal and intangible property.
https://lao.ca.gov/Publications/Report/4100

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - The federal administration currently is renegotiating the North American Free Trade Agreement, an agreement that eliminates many barriers to the exchange of goods among the U.S., Canada, and Mexico. These negotiations are ongoing.
https://lao.ca.gov/Publications/Report/3829

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - It provides nonrefundable tax credits to companies in exchange for a commitment to increase employment and investment in the state over several years. More specifically, the objective of the program is to influence a business ’s decision to make investments in California that would have been made in another state, or not at all, absent the credit.
https://lao.ca.gov/Publications/Report/5162

Evaluating the Sale-Leaseback Proposal: Should the State Sell Its Office Buildings? [Publication Details]

Apr 27, 2010 - In our view, taking on long-term obligations—like the lease payments on these buildings—in exchange for one-time revenue to pay for current services is bad budgeting practice as it simply shifts costs to future years.
https://lao.ca.gov/Publications/Detail/2261

A Key Interaction Between Sales Taxes and Other Taxes on Cannabis Retailers

Dec 17, 2019 - For these taxes, gross receipts generally include the money that retailers receive from their customers in exchange for the goods they sell. Crucially, the definition of gross receipts generally excludes sales tax.
https://lao.ca.gov/Publications/Report/4124

The 2025-26 Budget: Governor’s Office of Business and Economic Development

Mar 18, 2025 - It provides nonrefundable tax credits to companies in exchange for a commitment to increase employment and investment in the state over several years. GO-Biz selects applicants via a competitive application process and negotiates individual agreements with each successful applicant, including year-by-year milestones an d corresponding credit allocations.
https://lao.ca.gov/Publications/Report/5018

The 2017-18 Budget: California Competes Tax Credit

Feb 27, 2017 - California Competes allows companies to request a credit against the corporation tax (CT) or the personal income tax (PIT) in exchange for meeting specific hiring and investment goals over a five-year period.
https://lao.ca.gov/Publications/Report/3586

Building Reserves to Prepare for a Recession

Mar 7, 2018 - By most measures, the recession of the early 1990s was more severe than the dot ‑com bust in the early 2000s. For example, unemployment in California reached 9. 7  p ercent in mid ‑ to late ‑1992, but peaked at 6. 9  p ercent after the dot ‑com bust.
https://lao.ca.gov/Publications/Report/3769

Fixing Unemployment Insurance

Dec 2, 2024 - During the phase ‑in period, the state also entered the dot ‑com recession. These two cost pressures absorbed the remaining flexibility in the state ’s UI tax system. As  shown in Figure  4 , the state began this period in Schedule C but quickly moved to Schedule F+, the highest tax schedule, where it has remained since.
https://lao.ca.gov/Publications/Report/4943