The 2019-20 May Revision: Opportunity Zones

May 11, 2019 - At the same time, federal tax law typically influences people ’s choices more than state tax law because federal tax rates are higher. This means that at least some of the investment receiving California tax benefits would happen anyway in response to the federal tax benefit.
https://lao.ca.gov/Publications/Report/4038

Background on the California Earned Income Tax Credit [Publication Details]

Apr 11, 2019 - Background on the California Earned Income Tax Credit [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/4007

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

Mar 6, 2019 - The 2019-20 Budget: Analysis of Proposed Earned Income Tax Credit Expansion 192 EITC = Earned Income Tax Credit. .  .  . Recent Changes to EITC Likely to Increase Use Further. The Legislature expanded the state EITC for tax year 2018 i n two ways.
https://lao.ca.gov/Publications/Report/3960

The 2019-20 Budget: Tax Conformity [Publication Details]

Mar 6, 2019 - Generally, the federal tax changes reduced tax rates and broadened the tax base (what is subject to tax). Because the state’s income tax laws closely refer to large portions of federal law, many of those changes created new differences between federal and state taxes.
https://lao.ca.gov/Publications/Detail/3959

The 2019-20 Budget: Analysis of Proposed Earned Income Tax Credit Expansion [Publication Details]

Mar 6, 2019 - The 2019-20 Budget: Analysis of Proposed Earned Income Tax Credit Expansion [Publication Details] The 2019-20 Budget: Analysis of Proposed Earned Income Tax Credit Expansion Format: HTML Description: The state adopted an EITC in 2015 and expanded it in 2017 and 2018.
https://lao.ca.gov/Publications/Detail/3960

The 2019-20 Budget: Tax Conformity

Mar 6, 2019 - Generally Reduced Tax Rates . . . The 2017 federal tax law reduced effective tax rates for many filers. (The effective tax rate is the total amount of tax divided by the taxpayer ’s gross income.) In particular, the law: Replaced the previous CT rate structure with a flat 21  p ercent tax rate.
https://lao.ca.gov/Publications/Report/3959

The 2019-20 Budget: Proposition 56 Revenues: Reductions in Fixed Allocations

Feb 14, 2019 - The 2019-20 Budget: Proposition 56 Revenues: Reductions in Fixed Allocations Department of Public Health —Enforcement 6.0 California Department of Tax and Fee Administration —Enforcement 6.0 5.5 No Multiyear Proposal.
https://lao.ca.gov/Publications/Report/3939

The 2019-20 Budget: Proposition 56 Revenues: Reductions in Fixed Allocations [Publication Details]

Feb 14, 2019 - In this post, we review the administration’s reductions to certain allocations of Proposition 56 tobacco tax revenue. In our view, the administration’s approach for 2019-20 is reasonable. However, the administration has not yet decided how these adjustments will be determined in 2020-21 and beyond.
https://lao.ca.gov/Publications/Detail/3939

The 2019-20 Budget: Overview of the Governor's Budget

Jan 14, 2019 - From 2017 ‑ 18 t o 2019 ‑20, its estimates of baseline Medi ‑Cal expenditures (before accounting for policy changes) is $3. 8  b illion lower than we estimated in November. This difference includes a roughly $ 2  b illion downward revision to current ‑year expenditures.
https://lao.ca.gov/Publications/Report/3916

Evaluation of a Sales Tax Exemption for Certain Manufacturers

Dec 11, 2018 - Proponents of tax expenditures often produce estimates based on the assumption that these policies are responsible for all of the recipients ’ employment, output, and other economic activity. This assumption is unreasonable.
https://lao.ca.gov/Publications/Report/3907