The 2021-22 Budget: California Spending Plan Series [Publication Details]

Aug 24, 2021 - Each year, our office publishes California Spending Plan, a series of publications that summarize the annual state budget. The Overview of the California Spending Plan is presented here along with short online posts that focus on major areas and features of the 2021-22 budget package. As more of these posts become available, we will add them below.
https://lao.ca.gov/Publications/Detail/4464

Snapshot of the California Economy: February 2021 [EconTax Blog]

Apr 6, 2021 - Over the last year, the state has experienced abrupt and dramatic swings in economic activity. While a variety of data is available to track developments in the state economy, drawing clear conclusions from these disparate data points can be difficult.
https://lao.ca.gov/LAOEconTax/Article/Detail/640

U.S. Retail Sales: July 2020 [EconTax Blog]

Aug 14, 2020 - July 2020 sales by some types of retailers substantially exceeded last year ’s sales, while sales by other types of retailers fell far short of last year ’s sales. Many of these differences are similar to the ones we noted last month .
https://lao.ca.gov/LAOEconTax/Article/Detail/520

September 2019 State Tax Collections [EconTax Blog]

Oct 11, 2019 - September is an important CT collection month for “fiscal year ” filers. These are corporations that close their corporate accounting year in months other than December (many large corporations end their fiscal years in June or September).
https://lao.ca.gov/LAOEconTax/Article/Detail/405

Home Sales Update: January 2020 [EconTax Blog]

Feb 24, 2020 - This next graph compares the most recent three months with the same months in the previous year. The year over year growth rate (4.1 percent) is as high as it has been since 2017, but this is mainly because the period from November 2018 to January 2019 was the weakest three-month stretch since 2011.
https://lao.ca.gov/LAOEconTax/Article/Detail/437

U.S. Retail Sales Update: January 2021 [EconTax Blog]

Feb 17, 2021 - Last year, in the early stages of the pandemic, the U.S. experienced changes in retail sales that were far larger than any month-to-month swings ever previously recorded. Although the fluctuations over the last few months have been less extreme than those in the first half of 2020, they have been large nevertheless.
https://lao.ca.gov/LAOEconTax/Article/Detail/624

Income Tax Withholding Tracker: April 20-April 24 [EconTax Blog]

Apr 24, 2020 - The second graph compares the year-over-year percent change in withholding (withholding this week relative to the same week in 2019) to average weekly decline experienced in March and April of 2009, when the state was in the depths of the Great Recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/458

U.S. Retail Sales: June 2020 [EconTax Blog]

Jul 16, 2020 - For example, sales by bars and restaurants —another major source of sales tax revenue —were down 26 percent compared to the same time last year.  
https://lao.ca.gov/LAOEconTax/Article/Detail/495

Cannabis Tax Revenue Update [EconTax Blog]

Dec 4, 2019 - Year-over-year growth, however, remains strong: last quarter ’s $104 million total is 54 percent higher than the current estimate for the first quarter of the 2018-19 fiscal year ($68 million). Although we rarely observe such rapid growth in other revenue sources, it is not very surprising in the context of a new legal market.
https://lao.ca.gov/LAOEconTax/Article/Detail/417

California Community Colleges Funding by Source [EdBudget]

Aug 17, 2020 - Colleges must spend all CARES funding by December 31, 2020. e Scores deferral payments to the year in which colleges are to spend the funds (rather than to the year in which colleges receive the funds).
https://lao.ca.gov/Education/EdBudget/Details/409