The 2025-26 Budget: Update on Implementation of New Firearm and Ammunition Tax

Feb 19, 2025 - Specifically, an 11  percent tax is applied to the gross retail sales of firearms, firearm precursor parts, and ammunition. Retail sales to law enforcement agencies and active or retired peace officers, as well as those that total less than $5,000 per quarter, are exempt from this tax.
https://lao.ca.gov/Publications/Report/4970

Fixing Unemployment Insurance

Dec 2, 2024 - For example, if California had had equivalently sized reserves going into the Great Recession, it still would have required a federal loan, but that loan would have been $5 billion rather than $11 billion.
https://lao.ca.gov/Publications/Report/4943

The 2023-24 Budget: Multiyear Budget Outlook

May 23, 2023 - While the May Revision makes several billion dollars in spending reductions, it maintains $11  billion in one ‑time and temporary spending in 2023 ‑24. We recommend this spending be reduced further (from $11  billion to roughly $4  billion) and out ‑year one ‑time and temporary spending be eliminated entirely, as explained further below.
https://lao.ca.gov/Publications/Report/4772

Evaluation of a Tax Exemption for Zero-Emission Buses

Apr 15, 2024 - In 2020, 11  percent of buses entering service for small transit agencies were ZEBs; by 2022, that share had grown to 38  percent. As described in the “Background ” section, the ICT establishes higher ZEB purchase requirements for large transit agencies than for small transit agencies.
https://lao.ca.gov/Publications/Report/4890

The 2023-24 Budget: California's Film Tax Credit

Feb 28, 2023 - TV received 70  percent of the credits, with 11  percent going to relocating TV shows. This contrasts with 55  percent under the first film tax credit program. Credit Claims Shifting to Sales Tax. Whereas most of the credits from the first program were claimed against corporation taxes, claims against the sales tax have increased in importance during the time of Program 2.0.
https://lao.ca.gov/Publications/Report/4713

Tax Credit Expansions in the American Rescue Plan

Apr 13, 2021 - Tax Credit Expansions in the American Rescue Plan COVID-19 Tax Credit Expansions in the American Rescue Plan The federal American Rescue Plan (ARP) that passed on March  11 expanded a number of federal income tax credits.
https://lao.ca.gov/Publications/Report/4410

The 2022-23 Budget: Fuel Price and Other Fiscal Relief Options

May 12, 2022 - The Governor has put forward several proposals totaling roughly $11  billion that are intended to provide relief to Californians, most of which were proposed this spring following the release of the Governor ’s January budget.
https://lao.ca.gov/Publications/Report/4597

Tax Credit Expansions in the American Rescue Plan [Publication Details]

Apr 13, 2021 - The federal American Rescue Plan (ARP) that passed on March 11 expanded a number of federal income tax credits. This piece will briefly describe the changes to three credits that apply to many lower-income and middle-income filers: the Earned Income Tax Credit (EITC), the Child Tax Credit (CTC), and the Child and Dependent Care Expenses Credit (“child care credit”).
https://lao.ca.gov/Publications/Detail/4410

The 2020-21 May Revision: Revenue Proposals in the 2020-21 May Revision

May 20, 2020 - We estimate that repealing this exemption on October 1, 2020 would raise roughly $9  million General Fund in 2020 ‑21 and $11  million General Fund in 2021 ‑22. Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656
https://lao.ca.gov/Publications/Report/4238

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - For example, using the Governor ’s structure but setting the new PIT credit at 11  p ercent (as opposed to 13. 3  p ercent) of an individual ’s S corporation income could result in state revenue gains in the hundreds of millions of dollars per year while still increasing shareholders ’ after ‑tax income.
https://lao.ca.gov/Publications/Report/4327