Income Tax Withholding Tracker: 3/16 to 3/20 [EconTax Blog]

Mar 20, 2020 - Income Tax Withholding Tracker: 3/16 to 3/20 [EconTax Blog] Income Tax Withholding Tracker: 3/16 to 3/20 March 20, 2020 Brian Uhler Bottom Line: While COVID-19 does not appear to have significantly affected personal income tax withholding to date, we anticipate a slowdown in withholding in the coming weeks.
https://lao.ca.gov/LAOEconTax/Article/Detail/443

Cannabis Tax Revenue Update [EconTax Blog]

Aug 19, 2020 - Cannabis Tax Revenue Update [EconTax Blog] Seth Kerstein In November 2016, California voters approved Proposition 64 , which legalized the nonmedical use of cannabis. The state levies two excise taxes on cannabis: a retail excise tax and a cultivation tax.
https://lao.ca.gov/LAOEconTax/Article/Detail/524

Income Tax Withholding Tracker: February 1 - February 19 [EconTax Blog]

Feb 19, 2021 - Income Tax Withholding Tracker: February 1 - February 19 [EconTax Blog] Income Tax Withholding Tracker: February 1 - February 19 February 19, 2021 Brian Uhler Bottom Line: California income tax withholding collections in February to date are 7.8 percent above February 2020.
https://lao.ca.gov/LAOEconTax/Article/Detail/627

2021-22 “Big Three” Revenue Outlook Update: September 2021 [EconTax Blog]

Sep 20, 2021 - We currently project that there is a strong chance that collections from the state ’s “big three ” taxes —personal income, sales, and corporation taxes —will exceed the budget act assumption of $170 billion in 2021-22.
https://lao.ca.gov/LAOEconTax/Article/Detail/698

April 2019 Corporation Tax Collections Stronger Than Expected [EconTax Blog]

Apr 18, 2019 - April Typically Is Second Largest Corporation Tax Collections Month. Income tax collections in some months are more important than the results from other months due to when different types of tax payments are due.
https://lao.ca.gov/LAOEconTax/Article/Detail/362

Income Tax Withholding Tracker: January 1 - January 25 [EconTax Blog]

Jan 26, 2021 - Income Tax Withholding Tracker: January 1 - January 25 [EconTax Blog] Income Tax Withholding Tracker: January 1 - January 25 January 26, 2021 Brian Uhler Bottom Line: California income tax withholding collections in January to date are 7 percent above January 2020.
https://lao.ca.gov/LAOEconTax/Article/Detail/614

The 2020-21 May Revision: Revenue Proposals in the 2020-21 May Revision

May 20, 2020 - Conform to Federal Limit on Local Tax Deductions. Taxpayers can deduct the amount of state and local taxes they pay (property taxes plus either sales or income taxes, but not both) from their federal taxable income.
https://lao.ca.gov/Publications/Report/4238

Income Tax Withholding Tracker: December 1 - December 23 [EconTax Blog]

Dec 23, 2020 - Income Tax Withholding Tracker: December 1 - December 23 [EconTax Blog] Income Tax Withholding Tracker: December 1 - December 23 December 23, 2020 Brian Uhler Bottom Line:   California income tax withholding collections in December to date are 19 percent above December 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/603

The 2020-21 Budget: Medi-Cal Fiscal Outlook

Nov 20, 2019 - Assumes Expiration of Reauthorized MCO Tax Halfway Through 2022 ‑23. The reauthorized MCO tax is scheduled to expire halfway through the 2022 ‑23 fiscal year. Accordingly, our outlook assumes no revenues from an operative MCO tax after December 2022.
https://lao.ca.gov/Publications/Report/4116

The 2020-21 Budget: Medi-Cal Fiscal Outlook [Publication Details]

Nov 20, 2019 - This web post provides detail on our projections and assumptions related to General Fund spending in Medi-Cal for the years 2019-20 through 2023-24. In the near term, we project Medi-Cal spending to grow to $23.5 billion in 2020-21. Over the long term, we project General Fund spending in Medi-Cal to grow to up to $27.6 billion.
https://lao.ca.gov/Publications/Detail/4116