The 2025-26 Budget: CDTFA’s Tobacco Programs

Feb 14, 2025 - CDTFA runs three tobacco-focused programs: The Cigarette and Tobacco Tax Program administers a $2.87 per pack tax on combustible cigarettes and a 53  percent tax (adjusted annually) on the wholesale cost of other tobacco products, such as e-cigarettes, cigars, and chewing tobacco.
https://lao.ca.gov/Publications/Report/4966

The 2025-26 Budget: California’s Film Tax Credit

Feb 28, 2025 - California is the only state that has an explicit competitive element to its tax credit, as it ranks projects using a formula that weighs the wages that will be generated by a production versus the value of credits that will be allocated t o that project.
https://lao.ca.gov/Publications/Report/5000

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - There were nearly 1, 600 i nitial public offerings in the United States in 2020, a 42  p ercent increase over 2019. With the stock market at all ‑time highs, many other corporations raised capital by selling additional shares of stock.
https://lao.ca.gov/Publications/Report/4327

Annual Report on Tax Exemptions for Medicinal Cannabis

Jul 1, 2021 - Chapter   837 o f 2019 (S B  34 , Wiener) established new tax exemptions for donations of medicinal cannabis. The law directs our office to submit an annual report containing dat a on three outcomes related to the exemptions: the number of medicinal cannabis patients served, the amount of medicinal cannabis products donated, and the amount of tax revenue lost.
https://lao.ca.gov/Publications/Report/4447

The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - First, the Governor proposes putting a $4. 8  b illion bond before voters in November 2020 t o fund a variety of activities intended to help the state mitigate and prepare for the effects of climate change.
https://lao.ca.gov/Publications/Report/4135

Evaluating State Economic Stimulus Proposals

Feb 1, 2021 - New state spending may ( 1)  d irectly increase state employment; ( 2)  i ncrease state purchases of goods and services from the private sector; and/or ( 3)  i ncrease private ‑sector employment, spending, and investment.
https://lao.ca.gov/Publications/Report/4331

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

Feb 28, 2023 - O ’Brien, Nina F., and Christianne J. Lane. “Effects of economic incentives in the American film industry: An ecological approach. ” Regional Studies 52.6 (2018): 865 ‑875. Owens, Mark F., and Adam D.
https://lao.ca.gov/Publications/Report/4713

The 2020-21 Budget: Expanding the Minimum Franchise Tax Exemption

Mar 23, 2020 - We recognize that, especially in light of the growing economic impact of the COVID ‑ 19 o utbreak, there is a general interest in supporting small businesses. However, expanding this poorly targeted tax expenditure is not a good option for achieving this goal.
https://lao.ca.gov/Publications/Report/4207

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

May 20, 2020 - Net income is an especially poor way to identify small businesses because many large businesses with high revenues als o have a lot of expenses. An arbitrary threshold of $1  million would still allow many medium and large businesses to claim NOLs.
https://lao.ca.gov/Publications/Report/4238

Assessing Recent Changes to California Competes

Mar 30, 2020 - Chapter   52 o f 2018 (S B  855 , Committee on Budget and Fiscal Review) made several changes to the program and requires our office to review information submitted to us about the program by the administration and report to the Legislature.
https://lao.ca.gov/Publications/Report/4213