How Uncertain Are Capital Gains Revenue Estimates? [EconTax Blog]

May 12, 2019 - May 20, 2019 Justin Garosi Revenue from taxation of capital gains is a major component of state personal income tax collections, making up 16 percent of total projected personal income tax revenues for 2018-19.
https://lao.ca.gov/LAOEconTax/Article/Detail/371

LAO May Outlook: Home Prices [EconTax Blog]

May 12, 2019 - Home price growth is an important driver of growth in local property tax collections. Prices also can affect revenues from major state taxes, particularly the personal income tax and sales tax. In general, higher home prices mean more tax revenues for state and local governments.
https://lao.ca.gov/LAOEconTax/Article/Detail/369

LAO May Outlook: Growth in Assessed Property Values [EconTax Blog]

May 12, 2019 - LAO May Outlook: Growth in Assessed Property Values [EconTax Blog] LAO May Outlook: Growth in Assessed Property Values May 12, 2019 Brian Uhler Property taxes are a primary revenue source for cities, counties, special districts and schools.
https://lao.ca.gov/LAOEconTax/Article/Detail/368

The 2019-20 May Revision: Sales Tax Exemptions for Diapers and Menstrual Products [Publication Details]

May 12, 2019 - The 2019-20 May Revision: Sales Tax Exemptions for Diapers and Menstrual Products [Publication Details] The 2019-20 May Revision: Sales Tax Exemptions for Diapers and Menstrual Products Format: HTML Description: In the May Revision, the Governor has proposed two new sales tax exemptions that would go into effect on January 1, 2020 and expire on December 31, 2021: one for menstrual products and another for children’s diapers.
https://lao.ca.gov/Publications/Detail/4040

The 2019-20 May Revision: LAO Revenue Outlook

May 12, 2019 - All of our revenue estimates use the administration’s assumptions for the effects of conforming to certain federal tax law changes and expanding the Earned Income Tax Credit. Personal Income Tax (PIT) PIT Growth Remains Steady.
https://lao.ca.gov/Publications/Report/4037

The 2019-20 May Revision: Initial Comments on the Governor’s May Revision

May 12, 2019 - We believe this increase in revenues likely is a one-time event in response to federal tax changes in 2017. Some Tax Policy Changes. The increase in revenues, including in PT and CT, also reflects some changes to tax policy and assumptions about the effects of those changes.
https://lao.ca.gov/Publications/Report/4039

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

May 12, 2019 - Of that, 3.94  percent raises money for the state ’s General Fund, and 2.06  percent raises money the state provides to counties for various local programs. Local governments ’ portion of the sales tax ranges from 1.25  percent to 4.5  percent.
https://lao.ca.gov/Publications/Report/4040

The 2019-20 May Revision: Opportunity Zones [Publication Details]

May 11, 2019 - The Governor proposes to allow state tax benefits for investments in alternative energy or affordable housing in communities designated as Opportunity Zones under a new federal program.
https://lao.ca.gov/Publications/Detail/4038

The 2019-20 May Revision: Opportunity Zones

May 11, 2019 - At the same time, federal tax law typically influences people ’s choices more than state tax law because federal tax rates are higher. This means that at least some of the investment receiving California tax benefits would happen anyway in response to the federal tax benefit.
https://lao.ca.gov/Publications/Report/4038

The 2019-20 Budget: Analysis of the Governor’s Mental Health Workforce Proposal

May 9, 2019 - In addition, we would expect that a shortage of mental health professionals might lead to sharply rising salaries for mental health professionals as hospitals, clinics, counties, and other organizations compete to fill needed mental health positions.
https://lao.ca.gov/Publications/Report/4031