01 Oct State Budget Income Tax Withholding Collections in September Up 22.5 Percent From 2020 August 8, 2023 By CalTax California’s revenue outlook continues to be very positive, the Legislative Analyst’s Office (LAO) reported, as personal income tax wit...Continue reading
24 Sep State Budget Revenue Windfall Continues, Could Reach $25 Billion August 8, 2023 By CalTax The state’s tax revenue windfall could reach $25 billion by the end of the current fiscal year, the Legislative Analyst’s Office stated...Continue reading
27 Aug State Budget Revenue Beats Projections by $1.5 Billion in First Month of New Fiscal Year August 8, 2023 By CalTax General fund tax revenue for July, the first month of the 2021-22 fiscal year, was $1.54 billion above the $8.38 billion forecast in th...Continue reading
04 Jun State Budget Democratic Legislative Leaders Unveil Joint Budget Proposal August 8, 2023 By CalTax Democratic legislative leaders announced June 1 that they have reached a budget agreement and will now negotiate with Governor Gavin Ne...Continue reading
30 Apr State Budget California’s Tax Revenue Is $16.7 Billion Above Projections August 8, 2023 By CalTax State revenue for the first nine months of the current fiscal year is $16.7 billion ahead of the projections in Governor Gavin Newsom’s...Continue reading
23 Apr State Budget State Spending Limit Is ‘Major Issue,’ Analyst Reports, Indicating Any New Tax Hikes Might Have to Be Refunded August 8, 2023 By CalTax California’s voter-approved state spending limit – which requires the state to return money to taxpayers and dedicate more money to sch...Continue reading
26 Feb State Budget Early-Action Budget Provisions Signed Into Law August 8, 2023 By CalTax Governor Gavin Newsom signed several budget bills February 23 after the Legislature fast-tracked measures that Newsom said are needed i...Continue reading
19 Feb State Budget Governor and Democratic Leaders Announce Deal on Early Budget Action August 8, 2023 By CalTax Governor Gavin Newsom and Democratic legislative leaders announced February 17 that they have reached an agreement on portions of the s...Continue reading
22 Jan State Budget December’s State Tax Revenue Was $3 Billion Higher Than Projected August 8, 2023 By CalTax Revenue from the state government’s three largest taxes beat budget projections by $3 billion (21 percent) for the month of December, t...Continue reading
08 Jan State Budget Newsom Proposes $227 Billion Budget With Continuation of Business Tax Hike August 8, 2023 By CalTax Continue reading