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The governor’s revised budget would suspend a net operating loss tax deduction for businesses with California income of more than $1 million during tax years 2025, 2026 and 2027.
The budget will provide spending for the 2024-25 fiscal year, which begins July 1. Rivas and McGuire touted funding the Legislature received for spending Newsom proposed cutting in his budget.
Democratic lawmakers and Gov. Gavin Newsom are scrambling to lessen California's budget deficit, which Newsom estimated at $37.9 billion in January. Newsom and Democratic lawmakers detail first ...
The California Supreme Court is weighing whether to keep a measure off the November ballot that would make it harder for the state and local governments to raise taxes, in a legal battle pitting ...
For premium support please call: 800-290-4726 more ways to reach us
For premium support please call: 800-290-4726 more ways to reach us
California Democrats approved a bill on Thursday to add an 11% excise tax on firearms manufacturers and dealers to help fund violence prevention programs and to bolster school safety.