Updated information about July 2015 major tax collections in California's General Fund has been released.
In total, 2014-15 General Fund agency cash revenue collections exceeded the Governor's estimate, as incorporated in the 2015-16 budget plan he signed into law last month, by $732 million.
We discuss the May Revision estimates for Proposition 30 revenues.
Our office's May Revision revenue outlook anticipates billions of dollars of additional revenues in 2015-16, compared to the administration's updated projections.
In this post, we present a map illustrating the variation in sales tax rates in two of California's major population centers.
As described in our recent report, Understanding California’s Sales Tax, New York City levies a sales tax on personal services. This note provides additional information about the services that are subject to this tax.
As described in our report, Understanding California's Sales Tax, California's sales tax rate has more than doubled since 1962.
This note provides information on March 2015 state tax collections.
This post discusses February 2015 personal income, sales, and corporate income tax collections (the General Fund's "Big Three" tax sources).
In response to questions received during a January Senate budget hearing, we examine California's General Fund tax expenditures: tax deductions, credits, exclusions, and the like that reduce revenues below what they would be otherwise.
With the upcoming end of the "triple flip," a complex, decade-old mechanism affecting state and local finances in California, we have received several inquiries seeking a basic understanding of what the triple flip is and how its end will work exactly. This note addresses those issues.
December 2014 sales taxes were 4 percent above projections from last June's state budget act. This adds to the much larger gains due to last month's personal and corporate income tax surge.
The Department of Finance's Finance Bulletin, today's version of which includes November 2014 revenue data, is the key report on state revenues each month.
The property tax is the largest source of local tax revenue for all local governments combined.
The state government and local governments, respectively, rely on different tax revenue sources.