Tag "Taxes"

Back to homepage

IRS could easily block state plan to increase tax deductions

Democratic state lawmakers’ interest in pursuing an unprecedented plan to minimize the hit that California’s high-income residents face because of the federal tax overhaul’s $10,000 cap on deductibility of state and local taxes may be losing momentum – undermined by strong

Read More

California Democrats take aim at company tax savings with surcharge proposal 

Democrat Assemblymen Kevin McCarty and Phil Ting recently introduced Assembly Constitutional Amendment 22, a piece of legislation that calls for a 7 percent surcharge on companies that have net earnings over $1 million, in addition to the current state corporate

Read More

California Democrats unveil plan to skirt provision of GOP tax law

Senate President Pro Tempore Kevin de León, D-Los Angeles, on Thursday unveiled his plan to allow Californians to skirt the provision of the newly passed federal tax overhaul that caps the state and local tax deduction (SALT), in just the

Read More

Realtors’ initiative could boost home sales, limit property taxes

SACRAMENTO – Property-tax-limiting Proposition 13 has long been viewed as the “third rail” of California politics given its continued popularity among the home-owning electorate. Public-sector unions occasionally talk about sponsoring an initiative to eliminate its tax limits for commercial properties,

Read More

Nepotism scandal embroils recently gutted state tax board

SACRAMENTO – The California Board of Equalization was stripped of most of its powers over the summer, after a series of audits and news reports exposed myriad spending, accounting and management problems. But the renamed, and greatly diminished, tax agency continues

Read More

California politicians react to GOP tax plan

House Republicans unveiled a massive tax overhaul last week which would disproportionately affect California taxpayers. The GOP proposal would halve the Mortgage Interest Deduction for new mortgages while also preventing taxpayers from deducting local and state taxes from their federal

Read More

Transparency initiative shaped nature of road-tax debate

  It’s no secret that the state’s legislative leadership is less than thrilled about an open-government initiative that California voters passed in the November election, and are doing what they can to undermine its clear intent. Yet, it’s a testament

Read More

California “donor state” status a political football

  Some Californians have long complained of their state’s status as a so-called “donor state” — one that sends more money to Washington than it receives. But as political tensions with the White House have heated up, and some federal funding

Read More

CA health tax plan keeps Medi-Cal part of national budget

Surmounting a challenge that has festered since summer of last year, Sacramento legislators pulled together behind a tax plan that will keep Medi-Cal part of the national budget. “California lawmakers approved a health plan tax package Monday designed to continue pulling

Read More

Huge CA Powerball sales sharpen lottery debate

Californians joined in the country’s fever over an extraordinary Powerball prize, leading the nation in ticket sales — but not without raising conflicting feelings about the lottery. “In California, about 80 cents of every $2 ticket sold goes toward education,” as the

Read More