The 2020-21 Spending Plan: Tax Changes

Oct 5, 2020 - Businesses may earn credits if they take actions the state wants to encourage, such as spending money on research and development. Tax credits reduce a business ’s tax bill directly, on a dollar-for-dollar basis.
https://lao.ca.gov/Publications/Report/4270

The 2018-19 Budget: The May Revision—State Earned Income Tax Credit Expansion

May 14, 2018 - The 2018-19 Budget: The May Revision—State Earned Income Tax Credit Expansion State Earned Income Tax Credit Expansion Background State Earned Income Tax Credit (EITC) Boosts Low-Income Households ’ Earnings.
https://lao.ca.gov/Publications/Report/3835

The 2018-19 Budget: California Earned Income Tax Credit Education and Outreach

May 8, 2018 - The 2018-19 Budget: California Earned Income Tax Credit Education and Outreach The 2018-19 Budget California Earned Income Tax Credit Education and Outreach After California adopted a state earned income tax credit (EITC) in 2015, fewer than half the number of individuals claimed the credit than the administration initially projected.
https://lao.ca.gov/Publications/Report/3826

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - Responses to the wage, earnings, and hours questions are relatively precise. The main exception is that high wages are top-coded: all wages above a certain amount are assigned the same value. In high-wage states like California, top-coding seriously hinders analyses that consider the upper portion of the wage distribution.
https://lao.ca.gov/Publications/Report/4878/4

Income Mobility in California Across Generations

Jan 4, 2017 - Just over 20 percent of these children end up in the top two–fifths as adults. Outcomes Among Children Born Into Top Fifth of Incomes. Figure 6 shows that 53 percent of Californian children born in the top fifth remain in the top two–fifths as adults.
https://lao.ca.gov/Publications/Report/3518

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

Mar 6, 2019 - Figure 5 Benefits May Decline as Minimum Wage Rises Full Year Earnings Based on 50 Weeks Minimum Wage a , $/hr Full Year Earnings at Minimum Wage: EITC Benefit:
https://lao.ca.gov/Publications/Report/3960

Fixing Unemployment Insurance

Dec 2, 2024 - While it is reasonable to expect that some workers would make too much money for UI to replace half of their earnings, California ’s benefit levels only meet the federal wage replacement standard for half of the state ’s workers.
https://lao.ca.gov/Publications/Report/4943

Improving California’s Unemployment Insurance Program

Aug 8, 2022 - The state sets weekly UI payments based on prior earnings. Workers receive half of their average weekly earnings, based on their highest earning quarter of their base year. State law set in 2005 also caps the maximum payment at $450 per week.
https://lao.ca.gov/Publications/Report/4615

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - Of this amount, after accounting for the five ‑year structure of the tax credit agreements and the credit recaptures, we estimate that business have earned roughly $ 500  m illion in California Competes tax credits.
https://lao.ca.gov/Publications/Report/4327

The 2019-20 Budget: California Spending Plan—Conformity

Oct 17, 2019 - ABLE accounts are tax-advantaged savings accounts that allow the families of individuals with disabilities to save money for their future care. Contributions to ABLE accounts are not tax deductible but the earnings are excluded from income for state and federal tax purposes.
https://lao.ca.gov/Publications/Report/4100