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

Mar 6, 2019 - This increase would be a flat $500 for every worker with income under $28,000, then phase out between $28,000 and $30, 000 o f income at a rate of $ 1 o f credit for each $ 4 o f income. (This phase out range would be fixed until 2022 and would be adjusted for inflation thereafter.)
https://lao.ca.gov/Publications/Report/3960

Managing California’s Cash

Sep 3, 2019 - This means that continuously from October 2001 t o June 2004 t he state had billions of dollars in outstanding cash deficit financing. Cycle Ends With Authorization of Economic Recovery Bonds (ERBs).
https://lao.ca.gov/Publications/Report/4092

Annual Report on Tax Exemptions for Medicinal Cannabis

Jul 1, 2021 - Chapter   837 o f 2019 (S B  34 , Wiener) established new tax exemptions for donations of medicinal cannabis. The law directs our office to submit an annual report containing dat a on three outcomes related to the exemptions: the number of medicinal cannabis patients served, the amount of medicinal cannabis products donated, and the amount of tax revenue lost.
https://lao.ca.gov/Publications/Report/4447

Evaluation of the Property Tax Postponement Program

Oct 8, 2018 - In 2016, for example, homeowners aged 62 t o 71 had median household incomes of around $48,000, compared to homeowners aged 42 t o 51, who had median incomes of $88,000. However, older homeowners also tend to: Pay Less in Property Taxes.
https://lao.ca.gov/Publications/Report/3885

The 2019-20 Budget: Tax Conformity

Mar 6, 2019 - For example, the most recent major tax conformity change was Chapter   359 o f 2015 (A B  154 , Ting), which changed the specified date of conformity from January 1, 2009 t o January 1, 2015. Major Income Tax Provisions Affected By 2017 Changes We describe the most significant federal conformity provisions below.
https://lao.ca.gov/Publications/Report/3959

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - In 2018, more than 75  p ercent of total income from S corporations and partnerships went to filers with more than $500, 000 o f income. Taxpayers with incomes over $500, 000 m ake up about 2  p ercent of all taxpayers.
https://lao.ca.gov/Publications/Report/4327

The 2018-19 Budget: California’s New Tax Departments

Apr 4, 2018 - The administration notified the Legislature it was making such a transfer of $2. 2  m illion in February, bringing OTA ’s total budget for 2017 ‑ 18 t o more than $ 7  m illion. New Laws Directed OTA to Hear Appeals in Three Offices.
https://lao.ca.gov/Publications/Report/3796

The 2025-26 Budget: California’s Film Tax Credit

Feb 28, 2025 - California is the only state that has an explicit competitive element to its tax credit, as it ranks projects using a formula that weighs the wages that will be generated by a production versus the value of credits that will be allocated t o that project.
https://lao.ca.gov/Publications/Report/5000

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

Evaluation of a Sales Tax Exemption for Certain Manufacturers

Dec 11, 2018 - After the Legislature passed Chapter   10 o f 2010 (S B  71 , Padilla), CAEATFA hired Blue Sky Consulting to help CAEATFA implement the new law. In particular, Blue Sky —in consultation with CAEATFA and others —developed the scoring system that the authority has used to evaluate applicants for the exemption.
https://lao.ca.gov/Publications/Report/3907