The 2022-23 California Spending Plan: Transportation

Sep 29, 2022 - Diesel Sales Tax Reduction. The budget includes a one-year reduction in the diesel sales tax from 13  percent to roughly 9  percent beginning October 1, 2022. This reduction is intended to provide fiscal relief from high fuel costs to drivers and businesses.
https://lao.ca.gov/Publications/Report/4628

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

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

Landfills. [Ballot]

Aug 22, 2023 - Specifically, the measure allocates these revenues in the following ways: (1)  50  percent is retained by the owner of the garbage truck or dumpster for the purpose of purchasing electric garbage trucks and supporting related expenses; (2)  30  percent is provided to local governments to offset compliance costs, support road maintenance, and reduce waste-related taxes and fees
https://lao.ca.gov/BallotAnalysis/Initiative/2023-006

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

The 2023-24 Budget: Multiyear Assessment

Feb 15, 2023 - The state could reform th e underlying tax structure to make it less volatile, which nearly certainly would involve reducing tax rates for higher ‑income earners. Or, the state could address volatility by building reserves —funds that can be saved during upswings and spent during downturns.
https://lao.ca.gov/Publications/Report/4687

The 2021-22 Budget: Interest Payment on Federal Unemployment Insurance Loan

Feb 10, 2021 - UI Program Is Financed With Payroll Taxes Paid by Employers. Employers pay both state and federal UI payroll taxes. State UI tax revenues are deposited into the state ’s UI trust fund to pay benefits to unemployed workers.
https://lao.ca.gov/Publications/Report/4360

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

The 2021-22 May Revision: Golden State Stimulus 2

May 18, 2021 - The state ’s first stimulus program also provided an extra $600 payment to low-income undocumented workers who pay taxes using an individual taxpayer identification number (ITIN). ITINs are used by about half of the state ’s undocumented workers to pay taxes.
https://lao.ca.gov/Publications/Report/4435

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