How High? Adjusting California’s Cannabis Taxes

Dec 17, 2019 - For example, state cannabis tax revenue in the first half of calendar year 2019 was roughly twice as large as revenue in the first half of calendar year 2018 —a 100  p ercent increase. This strong revenue growth occurred while state cannabis tax rates remained constant.
https://lao.ca.gov/Publications/Report/4125

The 2019-20 Budget: California Spending Plan—Expands Earned Income Tax Credit (EITC)

Oct 17, 2019 - As in the prior year, the budget package also includes $10 million for education and outreach to expand awareness of the EITC. This post describes each of the three changes. The administration coupled the EITC expansion with changes to other tax provisions that increased tax revenue.
https://lao.ca.gov/Publications/Report/4099

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

California's Geography of Wealth [Publication Details]

Sep 5, 2019 - The concentration of wealth among a small number of very wealthy individuals and households has been the topic of much research and commentary in recent years. Perhaps less discussed is the similarly uneven geographical distribution of wealth.
https://lao.ca.gov/Publications/Detail/4093

Managing California’s Cash

Sep 3, 2019 - Revenues in this year came in far below expectations, meaning the cash deficit went below $ 20  b illion and the year ended with a cumulative cash deficit of $ 10  b illion. California Faced a Frozen Credit Market in September of 2008.
https://lao.ca.gov/Publications/Report/4092

The 2019-20 May Revision: Sales Tax Exemptions for Diapers and Menstrual Products

May 12, 2019 - Public schools Relatively high ‑poverty middle schools and high schools must provide free menstrual products. Human Services Eligibility criteria and grant amounts not adjusted for menstrual expenses.
https://lao.ca.gov/Publications/Report/4040

The 2019-20 May Revision: Opportunity Zones

May 11, 2019 - If investors hold on to the investment for multiple years, their tax liability on their deferred capital gains can be reduced. In addition, investors that maintain their investment for at least ten years will not be taxed on any capital gains earned on their Opportunity Zone investment.
https://lao.ca.gov/Publications/Report/4038

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 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

The 2019-20 Budget: Proposition 56 Revenues: Reductions in Fixed Allocations

Feb 14, 2019 - Hereafter, we refer to this problematic approach as the “year-over-year method. ” Year-Over-Year Method: an Example. The left-hand side of Figure  3 below illustrates the allocation for graduate medical education under the year-over-year method.
https://lao.ca.gov/Publications/Report/3939