The 2018-19 Budget: California Hiring Tax Credits

Mar 15, 2018 - If the qualified employee works 2,000 hours in a given year, the taxpayer could claim a credit of $2, 450 o n their qualified wages of $7,000. This works out to 6. 1  p ercent of the $40, 000 i n total wages paid to the employee.
https://lao.ca.gov/Publications/Report/3784

Managing California’s Cash

Sep 3, 2019 - Effect of A B   1054 o n State ’s Cash Balances. Similar to S B  84 , A B  1054 affects the state ’s cash position by lowering internal borrowable resources relative to what they would have been otherwise.
https://lao.ca.gov/Publications/Report/4092

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

Mar 23, 2020 - This estimate assumes that about 125, 000 n ew eligible noncorporate taxpayers claim the exemption each year. (The revenue assumption also makes a rough adjustment for the timing of the revenue effect in the first year.)
https://lao.ca.gov/Publications/Report/4207

The 2019-20 Budget: Analysis of Proposed Earned Income Tax Credit Expansion

Mar 6, 2019 - The Legislature expanded the state EITC for tax year 2018 i n two ways. First, the income limits were raised from $22, 300 t o $24,950 for filers with dependents and from $15, 000 t o $16,750 for workers with no dependents.
https://lao.ca.gov/Publications/Report/3960

Evaluation of the Property Tax Postponement Program

Oct 8, 2018 - Suppose a homeowner was choosing between PTP and HECM to help pay for five years of property taxes on a house with a taxable value of $300, 000 —representing around $18, 000 i n property taxes. Under PTP, the homeowner would repay the total principal amount plus about $1, 200 i n interest costs.
https://lao.ca.gov/Publications/Report/3885

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

Feb 28, 2023 - While all of these studies have limitations, some approaches are more reliable tha n others. In particular, our review focuses on studies that (1)  account for the fact that some productions would have selected the same location even without a tax credit, (2)  consider both direct economic effects (such as wage paid to production workers) and indirect economic effects (such as
https://lao.ca.gov/Publications/Report/4713

Evaluating State Economic Stimulus Proposals

Feb 1, 2021 - As a result, relying solely on the results of estimated jobs or economic output from these types of studies to evaluate a stimulus proposal likely will lead to a n incomplete assessment. …But Studies Still Can Provide Useful Information.
https://lao.ca.gov/Publications/Report/4331

Taxation of Sugary Drinks

Nov 26, 2018 - As shown in Figure  3, for example, a one cent per ounce tax results in a tax of $0. 12 o n a can of cola and $0. 64 o n a large bottle of cranberry juice cocktail. For a given container size, this type of tax treats all sugary drinks equally, regardless of their sugar content or other characteristics.
https://lao.ca.gov/Publications/Report/3903

The 2019-20 Budget: California Spending Plan—Conformity

Oct 17, 2019 - Under prior law, this filer would have been allowed to deduct the entire $300,000 i n 2019. The administration estimates this change will increase CT revenue in 2019 ‑20 by $1.3  billion ($900  million ongoing).
https://lao.ca.gov/Publications/Report/4100

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - For example, if a business had committed to hiring 100 n ew employees but only hired 80, the state might recapture 20  p ercent of the tax credits. Latest Round Differed From Prior Periods More Businesses Applied for Credits in 2020.
https://lao.ca.gov/Publications/Report/4327