California Economy and Taxes

Building Permits Update: April 2021 June 9, 2021

California builders recorded nearly 11,000 housing permits in April, more than double last April's total.

Examining California's Income Tax Withholding Growth by Sector June 9, 2021

The state's surprisingly strong growth in income tax withholding has been led by high-tech sectors, but many other sectors are showing big gains as well.

Cannabis Tax Revenue Update June 2, 2021

The administration currently estimates that retail excise tax revenue was $132 million and cultivation tax revenue was $31 million in the third quarter of fiscal year 2020-21 (January through March).

Income Tax Withholding Tracker: May 1 - May 28 May 28, 2021

California income tax withholding in May was 29.4 percent above last May, when serious pandemic restrictions were in effect.

May 2021 Cap-and-Trade Auction Update  May 28, 2021

Preliminary results from the most recent quarterly cap-and-trade auction held on May 19, 2021 show the state receiving an estimated $916 million in revenue. 

New Business Creation by Sector May 27, 2021

New business formation has been especially high in the retail and transportation sectors over the past ten months. 

April 2021 Jobs Report May 21, 2021

California employers added an estimated 101,800 jobs in April, the third straight month over 100,000. 

Home Prices Update: April 2021 May 20, 2021

California home prices continue to soar, and are now up 12.5 percent over the past 12 months.

Home Sales Update: April 2021 May 19, 2021

California's home sales surge continues, as April's total was the second highest of any month since 2011.

The 2021-22 Budget: May Revenue Outlook May 17, 2021

This post provides commentary on our May Outlook revenues.

U.S. Retail Sales Update: April 2021 May 14, 2021

Nationwide retail sales, which grew very strongly in March, remained at a high level in April.

Building Permits Update: March 2021 May 11, 2021

The state recorded nearly 12,000 housing permits in March, and nonresidential permit activity was surprisingly high.

Snapshot of the California Economy: March 2021 May 11, 2021

Following on strong February data, California’s economy posted another major uptick in March. 

California New Business Creation: April 2021 May 7, 2021

Californians continued to found new businesses at a strong clip in April.

March 2021 Jobs Report April 29, 2021

California employers added an estimated 119,600 net jobs in March.