California gaming activities. [Ballot]

Oct 1, 2021 - Imposes Sports Wagering Tax and Payments. The measure imposes a 15 percent tax on entities offering sports wagering. This tax is applied to the amount of sports wagers made after deducting any payouts of winnings.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-009

Reducing the Destructiveness of Wildfires: Promoting Defensible Space in California

Sep 30, 2021 - Other funding sources reported by local agencies include citations and fees, special taxes, and federal grants. For example, in 2020, voters in Marin County passed a special parcel tax to fund the creation of a joint powers authority focused on ï¬re protection and prevention, including defensible  space.
https://lao.ca.gov/Publications/Report/4457

Funding for students attending private schools and homeschool. [Ballot]

Sep 27, 2021 - Districts pay off these bonds over time with revenue generated by increasing their property tax rates. Other sources of local revenue include donations, parcel taxes, inte rest earnings, and developer fees.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-006

Income Tax Withholding Tracker: September 1 - September 24 [EconTax Blog]

Sep 24, 2021 - Income Tax Withholding Tracker: September 1 - September 24 [EconTax Blog] Income Tax Withholding Tracker: September 1 - September 24 September 24, 2021 Brian Uhler Bottom Line: California income tax withholding collections in September to date are 23.5 percent above September 2020, and collections to date in fiscal year 2021-22 are 22.5 percent above 2020-21.
https://lao.ca.gov/LAOEconTax/Article/Detail/702

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - Still, in any given year, the amount of revenue the entity tax generates should exceed the amount of entity tax credits used by PIT filers. Entity Tax Will Sunset in 2026 if Not Sooner. As stated above, the entity tax will be in effect from calendar years 2021 to 2025.
https://lao.ca.gov/Publications/Report/4452

August 2021 State Tax Collections [EconTax Blog]

Sep 20, 2021 - August 2021 State Tax Collections [EconTax Blog] Seth Kerstein Through the first two months of the 2021-22 fiscal year, collections from the state ’s three largest taxes —personal income, corporation, and sales taxes —are running 20 percent ($3.6 billion) ahead of budget projections.
https://lao.ca.gov/LAOEconTax/Article/Detail/699

August 2021 State Tax Collections [EconTax Blog]

Sep 20, 2021 - August 2021 State Tax Collections [EconTax Blog] Seth Kerstein Through the first two months of the 2021-22 fiscal year, collections from the state ’s three largest taxes —personal income, corporation, and sales taxes —are running 20 percent ($3.6 billion) ahead of budget projections.
https://lao.ca.gov/LAOEconTax/article/Detail/699

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

What Do Unanticipated Revenues Mean for the Surplus? [EconTax Blog]

Sep 20, 2021 - The formulas vary substantially based on the amount of personal income tax revenues attributable to capital gains that the state collects. These revenues can vary substantially from year to year, making it difficult to predict the impact on the formulas.
https://lao.ca.gov/LAOEconTax/Article/Detail/697

A New Method For Current Year Revenue Forecasting [EconTax Blog]

Sep 20, 2021 - To fill this void, our office recently developed a model to provide a monthly update of the forecast of current year collections from the state ’s “big three ” revenues (personal income, sales, and corporation taxes).
https://lao.ca.gov/LAOEconTax/Article/Detail/696