Income Tax Withholding Tracker: August 17 - August 21 [EconTax Blog]

Aug 21, 2020 - Income Tax Withholding Tracker: August 17 - August 21 [EconTax Blog] Income Tax Withholding Tracker: August 17 - August 21 August 21, 2020 Brian Uhler Bottom Line:   California income tax withholding was about even with the same week in 2019, and total collections since late March likewise are about even with the comparable period in 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/527

State Tax Collections Update: April 2020 to July 2020 [EconTax Blog]

Aug 20, 2020 - State Tax Collections Update: April 2020 to July 2020 [EconTax Blog] Seth Kerstein Bottom Line. Total revenue collections for the state ’s three largest taxes —personal income tax (PIT), sales tax, and corporation tax —across April 2020 to July 2020 came in 9 percent ($4.3 billion) ahead of budget projections.
https://lao.ca.gov/LAOEconTax/Article/Detail/525

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

Income Tax Withholding Tracker: August 10-August 14 [EconTax Blog]

Aug 14, 2020 - Income Tax Withholding Tracker: August 10-August 14 [EconTax Blog] Income Tax Withholding Tracker: August 10-August 14 August 14, 2020 Brian Uhler Bottom Line:   California income tax withholding surged this week, pushing total collections since late March to within 0.9 percent of the comparable period in 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/522

U.S. Retail Sales: July 2020 [EconTax Blog]

Aug 14, 2020 - In addition to being a general economic indicator, U.S. retail sales can give us a rough sense of the trajectory of sales tax revenues. As noted in a recent post , we also are tracking sales tax performance with spending data from credit and debit cards.
https://lao.ca.gov/LAOEconTax/Article/Detail/520

What Threat Does Sea-Level Rise Pose to California?

Aug 10, 2020 - To the degree local property tax revenues drop, this also could affect the state budget in some years because the California Constitution could require that losses in certain local property tax revenues used to support local schools be backfilled by the state ’s General Fund.
https://lao.ca.gov/Publications/Report/4261

Income Tax Withholding Tracker: August 3-August 9 [EconTax Blog]

Aug 7, 2020 - Income Tax Withholding Tracker: August 3-August 9 [EconTax Blog] Income Tax Withholding Tracker: August 3-August 9 August 7, 2020 Brian Uhler Bottom Line:   California income tax withholding surged this week, pushing total collections since late March to within 0.9 percent of the comparable period in 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/514

July 2020 Tax Payments Tracker: July 31 Update [EconTax Blog]

Jul 31, 2020 - July 2020 Tax Payments Tracker: July 31 Update [EconTax Blog] Brian Weatherford In a normal year, April and June are key months for state personal income tax and corporation tax collections, while July is relatively uneventful.
https://lao.ca.gov/LAOEconTax/Article/Detail/511

Income Tax Withholding Tracker: July 27-July 31 [EconTax Blog]

Jul 31, 2020 - Income Tax Withholding Tracker: July 27-July 31 [EconTax Blog] Income Tax Withholding Tracker: July 27-July 31 July 31, 2020 Brian Uhler Bottom Line:   California income tax withholding slumped this week, but total collections since late March are still just 2.2 percent below the comparable period in 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/509

Using Card Spending Data to Track Taxable Sales [EconTax Blog]

Jul 31, 2020 - In this post, we use data on credit card and debit card transactions in California to get a better sense of recent sales tax trends in California. Card Data: Early Spring Decline, Then Strong Growth.
https://lao.ca.gov/LAOEconTax/Article/Detail/508