CalFacts 2024 [Publication Details]

Dec 2, 2024 - CalFacts presents a wide range of facts and trends about the state's economy, finances, and programs.
https://lao.ca.gov/Publications/Detail/4942

The 2022-23 Budget: Temporary Limits on Business Tax Provisions [Publication Details]

Jan 26, 2022 - This 2022-23 budget post provides background on temporary limits on the use of net operating loss deductions and business tax credits. It describes the Governor’s proposal to lift these limits one year early and provides some comments to the Legislature.
https://lao.ca.gov/Publications/Detail/4500

The 2022-23 Budget: Temporary Limits on Business Tax Provisions

Jan 26, 2022 - Net Operating Loss Deductions Smooth Business Profits and Losses Over Time. Companies and individuals often incur operating losses associated with their business activities in some years. These companies are able to carry the net operating losses (NOLs) forward into future tax years and deduct NOLs from their operating income.
https://lao.ca.gov/Publications/Report/4500

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

Mar 18, 2025 - First, some firms lack tax liability in California due to ongoing and substantial use of other tax deductions and credits, most commonly the Research & Development Tax Credit and the Net Operating Loss deduction.
https://lao.ca.gov/Publications/Report/5018

Effect of Returning to Historical Estimated Tax Payment Schedule [Publication Details]

Feb 27, 2023 - As a result, the net impact on 2024‑25 and later years would minimal. Reports by Policy Area
https://lao.ca.gov/Publications/Detail/4722

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - Strikingly, net mobility out of low-wage work seems to stop abruptly when workers are in their early 30s. Between the ages of 32 and 40, the estimated rate of low-wage work declines so slowly that it is nearly flat.
https://lao.ca.gov/Publications/Report/4878/2

Effect of Returning to Historical Estimated Tax Payment Schedule

Feb 27, 2023 - As a result, the net impact on 2024 ‑25 and later years would minimal. Changes to Constitutional Budget Requirements. The revenue shift described above would result in changes to the state ’s constitutional minimum funding requirement for schools.
https://lao.ca.gov/Publications/Report/4722

Evaluation of a Sales Tax Exemption for Certain Manufacturers

Dec 11, 2018 - Some of these assumptions overstate net benefits, while others understate them. Overall, they tend to err on the side of overstatement. Assumptions That Overstate Net Benefit Omits Some Fiscal Effects.
https://lao.ca.gov/Publications/Report/3907

The 2020-21 Spending Plan: Tax Changes

Oct 5, 2020 - Overall, the budget package assumes these changes will result in a net revenue increase of about $4  billion in 2020 ‑21. Starting in 2023 ‑24, the net effect of these changes are expected to reduce revenues below what they otherwise would have been.
https://lao.ca.gov/Publications/Report/4270

The 2018-19 May Revision: LAO Revenue Outlook

May 12, 2018 - Preliminary Franchise Tax Board data show that net capital gains in 2016 totaled $110 billion. We estimate that net capital gains increase to $150 billion in 2017 and $162 billion in 2018, driven primarily by recent increases in stock market values.
https://lao.ca.gov/Publications/Report/3830