The 2024-25 Budget: Temporary Corporation Tax Increases [EconTax Blog]

May 17, 2024 - The May Revisions proposes to not allow businesses to use tax credits to reduce their taxes by more than $5 million for tax years 2025, 2026, and 2027. This would not apply to the low-income housing tax credit.
https://lao.ca.gov/LAOEconTax/article/Detail/804

The 2024-25 Budget: Initial Comments on the Governor’s May Revision

May 17, 2024 - The state meets this requirement through a combination of General Fund spending and local property tax revenue. When General Fund revenue declines, the minimum requirement usually declines in tandem.
https://lao.ca.gov/Publications/Report/4902

California’s Child Welfare System: Addressing Disproportionalities and Disparities

Apr 24, 2024 - The legislation also dedicated a portion of the state ’s sales and use tax and vehicle license fee revenues —along with a portion of the associated growth in these revenues —to counties to administer these programs (along with some public safety, behavioral health, and adult protective services programs).
https://lao.ca.gov/Publications/Report/4897

U.S. Retail Sales Update: March 2024 [EconTax Blog]

Apr 15, 2024 - U.S. retail sales have grown 0.8 percent over the last 3 months and 4 percent over the last 12 months. Retail sales growth has outpaced inflation over the last 12 months, but not over the last 3 months.
https://lao.ca.gov/LAOEconTax/Article/Detail/803

U.S. Retail Sales Update: March 2024 [EconTax Blog]

Apr 15, 2024 - U.S. retail sales have grown 0.8 percent over the last 3 months and 4 percent over the last 12 months. Retail sales growth has outpaced inflation over the last 12 months, but not over the last 3 months.
https://lao.ca.gov/LAOEconTax/article/Detail/803

The 2024-25 Budget: Child Care

Apr 15, 2024 - As part of the 2022 ‑23 budget package, the state eliminated the cannabis cultivation tax, which provided roughly one ‑fifth of Proposition  64 tax revenue. Recognizing the resulting fiscal risk, the budget package also established a target funding level for programs that receive Proposition  64 revenues (the “2020 ‑21  baseline ”) and included provisions intended to keep funding from falling below that target.
https://lao.ca.gov/Publications/Report/4893

Evaluation of a Tax Exemption for Zero-Emission Buses [Publication Details]

Apr 15, 2024 - Evaluation of a Tax Exemption for Zero-Emission Buses [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/4890

Evaluation of a Tax Exemption for Zero-Emission Buses

Apr 15, 2024 - Structure and Goals of Tax Exemption Basic Structure Sales Tax Includes General Fund and Other Components. California ’s sales tax rate varies across cities and counties, ranging from 7.25  percent to 10.75  percent.
https://lao.ca.gov/Publications/Report/4890

Evaluation of the Better for Families Tax Refund [Publication Details]

Apr 1, 2024 - Evaluation of the Better for Families Tax Refund [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/4891

The 2024-25 Budget: CalFire—Implementation of a 66-Hour Workweek

Mar 19, 2024 - Specifically, based on current revenue projections, to bring the budget into balance over the next few years, the Legislature will have to adopt some combination of ongoing program reductions and tax increases totaling at lea st $30  billion.
https://lao.ca.gov/Publications/Report/4886