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Pillsbury Winthrop Shaw Pittman LLP

California Governor Releases 2025 Budget Proposal to Move Banks and Financial Corporations to Single-Sales-Factor Apportionment

Pillsbury Winthrop Shaw Pittman LLP on

The proposal includes a shift to a single-sales-factor apportionment formula for financial institutions, aiming to increase tax revenue starting in tax year 2025. Update: On May 14, 2025, Governor Newsom released the May...more

Miller Starr Regalia

Senator Wiener and Assembly Member Wicks Applaud Governor Newsom’s Support of Their CEQA Reform Bills

Miller Starr Regalia on

On May 14, 2025, Senator Scott Wiener issued a press release stating that, on that morning, “Governor Gavin Newsom announced that he supports the strongest ever reforms of [CEQA],” referring to Newsom’s proposal to include in...more

McGuireWoods Consulting

California Legislative Update: Budget, Fires, Los Angeles

McGuireWoods Consulting on

California’s Budget Proposal - On Jan. 10, 2024, Gov. Gavin Newsom released his 2025-2026 budget proposal. The budget proposes a total spending of $322.2 billion in state funds – it consists of approximately $228.9...more

Eversheds Sutherland (US) LLP

California Governor “May Revise” taxpayer apportionment win

Eversheds Sutherland (US) LLP on

On May 10, California Governor Gavin Newsom introduced his “May Revise” of the state budget. In addition to net operating loss deduction suspensions and tax credit usage limitations, one particularly concerning corporate...more

McGuireWoods Consulting

California Update: State Legislature Passes its Version of the 2023-2024 Budget

McGuireWoods Consulting on

The California State Legislature recently passed its version of the 2023-2024 State Budget on June 15th, meeting its constitutional deadline to do so. The $311.7 billion spending plan approves various key components of the...more

Perkins Coie

California Commits $15 Billion to Fighting Climate Change

Perkins Coie on

Governor Gavin Newsom signed a $15 billion legislative package on September 23, 2021, funding efforts to combat climate change in California over the next three years. It is the largest climate investment package in the...more

Proskauer - California Employment Law

Tax Hikes Proposed to Bail Out California Unemployment Fund

Proskauer - California Employment Law on

Just as California’s employers and small businesses begin to recover financially from the COVID-19 pandemic, the state legislature is about to spring another tax increase on them. This time the money is needed to bail out the...more

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