We provide additional detail on several key revenue issues in the May Revision, including administration estimates of capital gains and Proposition 30 revenues.
We display the administration's estimates for this revenue source as of January 2017.
California's sales tax rates are among the highest in the U.S., but different comparisons generate different rankings for California, ranging from second-highest to 11th-highest in the nation.
We provide our updated Proposition 30/55 revenue estimates.
We display the administration's Proposition 30 revenue estimates, as of the 2016 May Revision, as well as our office's estimates.
As part of the annual budget development process, the administration provides us with its current estimates of Proposition 30 revenues through 2018-19. 2018-19 is the last fiscal year affected by the Proposition 30 income tax increases for high-income Californians.
The expiration of the Proposition 30 sales tax increase affects the sales tax projections in our new Fiscal Outlook publication.
In conjunction with the November 2015 edition of our Fiscal Outlook, we update our estimates for the revenue effects of Proposition 30 (2012).
We discuss the May Revision estimates for Proposition 30 revenues.
As described in our report, Understanding California's Sales Tax, California's sales tax rate has more than doubled since 1962.
The Franchise Tax Board has released data on taxes paid and income reported on 2013 California personal income tax returns by county.
The state government's largest revenue source, the personal income tax, is much more volatile than "personal income," one key economic statistic that measures the overall size of the economy.
In 2012, for perhaps the first time in state history, the top 1% of the state's tax filers paid slightly over half of the state's personal income taxes.