The 2023-24 Budget: Multiyear Budget Outlook

May 23, 2023 - Under our office ’s projections, and assuming the Governor ’s May  Revision policies were adopted, the budget problem for this year is $34.5  billion —$6.2  billion higher than our estimate under the administration ’s projections.
https://lao.ca.gov/Publications/Report/4772

How High? Adjusting California’s Cannabis Taxes

Dec 17, 2019 - Miller, Keaton and Boyoung Seo (2019). “Tax Revenues When Substances Substitute: Marijuana, Alcohol, and Tobacco. ” Mimeo, University of Oregon. National Academies of Sciences, Engineering, and Medicine (2017).
https://lao.ca.gov/Publications/Report/4125

Improving California’s Unemployment Insurance Program

Aug 8, 2022 - However, due to the trust fund ’s longstanding poor condition, the highest tax rate schedule —known as the F+  schedule, which carries a 6.2  percent maximum rate —has been in effect every year since 2004.
https://lao.ca.gov/Publications/Report/4615

Volatility of California’s Personal Income Tax Structure

Sep 28, 2017 - As Figure  6 shows, aggregate income below $150,000 is remarkably stable —the period from 1990 to 2014 included some very strong economic years and some very weak ones, yet the growth rate of income below $150,000 was never higher than 6.2  percent or lower than minus 3.8  percent.
https://lao.ca.gov/Publications/Report/3703