The 2024-25 Budget: CalWORKs

Mar 4, 2024 - Our office independently forecasts CalWORKs grant increases triggered by growth in realignment revenue (a share of state sales tax and vehicle license fee revenues dedicated to counties). While our estimates have differed from the administration ’s previously, at this time our two offices ’ estimates are similar.
https://lao.ca.gov/Publications/Report/4872

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

The 2022-23 Budget: Medi-Cal Fiscal Outlook

Nov 17, 2021 - Assumed Expiration of the MCO Tax Reauthorization of the MCO Tax Would Generate Billions of Dollars in General Fund Savings Beginning in 2023 ‑24. The MCO tax generates annual General Fund savings in Medi ‑Cal of $1.5 billion or more for each year it is in effect.
https://lao.ca.gov/Publications/Report/4474

The 2023-24 Budget: California's Fiscal Outlook

Nov 16, 2022 - Our estimate of the total Proposition  98 spending on schools and community colleges in 2022 ‑23 is $106.7  billion ($78.6  billion from the General Fund and $28.1  billion from local property taxes).
https://lao.ca.gov/Publications/Report/4646

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

The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - For a number of years, the state has imposed a tax on managed care organizations’ (MCOs’) Medi‑Cal and commercial lines of business. We assume the state’s MCO tax expires midway through 2022‑23, consistent with current law.
https://lao.ca.gov/Publications/Report/4472

Gaming. [Ballot]

Dec 18, 2023 - This percent is applied to the amount of sports wagers made after deducting (1)  any wagers made with free bets or promotional credits (such as a wager made with funds provided by a tribe to a player as a promotion), (2)  all player winnings, and (3)  all federal gaming taxes.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-030

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

Net Taxpayer Outmigration Increased During 2017-2019 [EconTax Blog]

Jul 6, 2021 - Our office previously commented on how federal Internal Revenue Service (IRS) data show a persistent, long-term net outmigration of tax filers from California to other states. The IRS recently released data for tax year 2019 showing interstate migration among filers at different age groups and income levels.
https://lao.ca.gov/LAOEconTax/Article/Detail/675

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

Oct 22, 2021 - We currently project that there is a good 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 by at least several billion dollars.
https://lao.ca.gov/LAOEconTax/Article/Detail/707