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

Jan 26, 2022 - Net Operating Loss Deductions Smooth Business Profits and Losses Over Time. Companies and individuals often incur operating losses associated with their business activities in some years. These companies are able to carry the net operating losses (NOLs) forward into future tax years and deduct NOLs from their operating income.
https://lao.ca.gov/Publications/Report/4500

CalFacts 2024 [Publication Details]

Dec 2, 2024 - CalFacts presents a wide range of facts and trends about the state's economy, finances, and programs.
https://lao.ca.gov/Publications/Detail/4942

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - First, some firms lack tax liability in California due to ongoing and substantial use of other tax deductions and credits, most commonly the Research & Development Tax Credit and the Net Operating Loss deduction.
https://lao.ca.gov/Publications/Report/5162

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - For example, in 2024 ‑25, $13.1  million of CDTFA ’s Cannabis Tax Program spending came from the Cannabis Tax Fund, while $3.1  million came from the General Fund. The administration tells us that this spending came from CDTFA ’s General Fund appropriation in the budget act.
https://lao.ca.gov/Publications/Report/5132

The 2025-26 Budget: CDTFA’s Tobacco Programs

Feb 14, 2025 - CDTFA ’s estimated cost to implement AB  3218 and SB  1230 is $3.3  million in 2024-25, $5.5  million per year in 2025-26 and 2026-27, and $3.1  million in 2027-28 and ongoing. The new laws create penalties that could raise revenue to offset some of these costs.
https://lao.ca.gov/Publications/Report/4966

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - This is a net increase of $5  million (3  percent) over the revised 2024-25 level. (This does not reflect some adjustments related to Control Sections 4.05 and 4.12 of the 2024-25 and 2025-26 budgets.
https://lao.ca.gov/Publications/Report/5081

Effect of Returning to Historical Estimated Tax Payment Schedule

Feb 27, 2023 - As a result, the net impact on 2024 ‑25 and later years would minimal. Changes to Constitutional Budget Requirements. The revenue shift described above would result in changes to the state ’s constitutional minimum funding requirement for schools.
https://lao.ca.gov/Publications/Report/4722

Tax Credit Expansions in the American Rescue Plan

Apr 13, 2021 - CTC Benefit Will Not Count Against Income Eligibility for California ’s Major Safety Net Programs. The Department of Social Services recently released guidance that benefits granted under the expanded CTC will not count as income when determining either eligibility or benefit amounts for CalFresh, California Work Opportunity and Responsibility to Kids, or Supplemental Security Income/State Supplemental Payments, among other safety net programs.
https://lao.ca.gov/Publications/Report/4410

The 2023-24 Budget: Considering Inflation's Effects on State Programs

Nov 16, 2022 - For example, annual growth in the California Construction Cost Index (CCCI), published by the Department of General Services (DGS)—relevant to capital outlay and other infrastructure spending—was 13.4 percent in 2021, compared to an average of 3.1 percent over the previous five years.
https://lao.ca.gov/Publications/Report/4647

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - Strikingly, net mobility out of low-wage work seems to stop abruptly when workers are in their early 30s. Between the ages of 32 and 40, the estimated rate of low-wage work declines so slowly that it is nearly flat.
https://lao.ca.gov/Publications/Report/4878/2