Effect of Returning to Historical Estimated Tax Payment Schedule

Feb 27, 2023 - This change had the effect of accelerating tax collections from 2009 ‑10 into 2008 ‑09, thereby improving the 2008 ‑09 budget condition. As the state ’s fiscal situation continued to deteriorate in 2009, the 2009 ‑10 budget package again changed the quarterly estimated tax payment schedule to collect 70  percent in the first half of the fiscal year and 30  percent in the second, improving the 2009 ‑10 budget condition.
https://lao.ca.gov/Publications/Report/4722

The 2022-23 Budget: Temporary Limits on Business Tax Provisions

Jan 26, 2022 - This is a budget solution that the state previously has used, for example, to address the budget problem caused by the Great Recession in 2008. Net Operating Loss Deductions Smooth Business Profits and Losses Over Time.
https://lao.ca.gov/Publications/Report/4500