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

Mar 6, 2019 - Many community ‑based organizations and other state and local government agencies (such as school districts and county social services offices) engage in efforts to raise awareness about the state and federal EITC.
https://lao.ca.gov/Publications/Report/3960

The 2023-24 Budget: California's Film Tax Credit [Publication Details]

Feb 28, 2023 - The 2023-24 Budget: California's Film Tax Credit [Publication Details] Description: This brief surveys research on the economic effects of state film tax credits and analyzes the Governor's proposal to extend California's film tax credit for five years.
https://lao.ca.gov/Publications/Detail/4713

The 2019-20 Budget: California Spending Plan—Conformity

Oct 17, 2019 - Federal CT laws define a small business as a corporation or a partnership with a corporate partner that has annual gross receipts under $25  million. The changes in state law conform to federal changes regarding the definition of a small business made in 2017.
https://lao.ca.gov/Publications/Report/4100

The 2020-21 Budget: Expanding the Minimum Franchise Tax Exemption

Mar 23, 2020 - About 25  p ercent of new companies do not file a timely corporate tax return in their first year of business. We are concerned that the exemption itself may be confusing new companies that might infer that they are not required to file a tax return because they are exempt from the minimum franchise tax in their first year.
https://lao.ca.gov/Publications/Report/4207

The 2019-20 Budget: Tax Conformity

Mar 6, 2019 - The 2017 c hanges to federal tax laws extend this accounting flexibility to most businesses with gross receipts of less than $ 25  m illion. Previously there were various lower gross revenue thresholds ranging from $ 5  m illion to $ 10  m illion.
https://lao.ca.gov/Publications/Report/3959

Evaluating State Economic Stimulus Proposals

Feb 1, 2021 - The state uses bonds primarily to pay for the planning, construction, and renovation of infrastructure projects such as bridges, dams, prisons, parks, schools, and office buildings. The state is prohibited from borrowing money to finance state operations.
https://lao.ca.gov/Publications/Report/4331

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

Jan 26, 2022 - 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 2022-23 Budget: Fuel Tax Rates [Publication Details]

Feb 11, 2022 - The 2022-23 Budget: Fuel Tax Rates [Publication Details] Description: In this post, we analyze the Governor’s proposed one-year fuel tax holiday. This proposal presents the Legislature with a tradeoff between reducing fuel expenses and funding state highway projects.
https://lao.ca.gov/Publications/Detail/4528

The 2020-21 Budget: Taxation of E-Cigarettes

Feb 24, 2020 - A second, less common type of pack contains 25 c igarettes and requires a $3. 59 t ax stamp. As a result, the vendor needs to produce just two denominations of stamps, and taxpayers can comply with the tax by affixing just one stamp to each pack.
https://lao.ca.gov/Publications/Report/4171

The 2022-23 Budget: Supply Chain and Port Infrastructure Proposals

Feb 15, 2022 - The Governor ’s budget provides a total of $1.2  billion over two years ($600  million in 2022 ‑23 and $600  million in 2023 ‑24) for a new goods movement infrastructure program to be administered by CalSTA.
https://lao.ca.gov/Publications/Report/4540