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California › State Taxes › Legislative Agendas

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

Buchalter

California’s Proposed Vacancy Tax Bill Watered Down to Reporting Requirement

Buchalter on

A bill recently introduced in the California State Senate would have imposed a tax on commercial buildings that have prolonged vacancies, but has been rewritten after facing strong opposition. Authored by California State...more

Orrick, Herrington & Sutcliffe LLP

California Supreme Court Blocks Sweeping Measure to Limit State and Local Authority to Implement Taxes

Orrick, Herrington & Sutcliffe LLP on

The California Supreme Court has blocked Initiative 1935—the so-called “Taxpayer Protection and Government Accountability Act”— from appearing on the November 2024 ballot. The court ruled unanimously that the “measure exceeds...more

Brownstein Hyatt Farber Schreck

CA Supreme Court Blocks Taxpayer Protection Act from November 2024 Ballot

Brownstein Hyatt Farber Schreck on

Constitutional limitations to raising revenue are becoming increasingly relevant for water and other governmental agencies as well as their customers and landowners in response to aging infrastructure, climate change and...more

Sheppard Mullin Richter & Hampton LLP

California Cannabis Farmers May Finally Get Some Relief

Sheppard Mullin Richter & Hampton LLP on

Residents of California often complain about high taxes, but no one pays higher taxes than the cannabis industry. In addition to the Federal 280E penalties, the cannabis industry in California is subject to a 15% state-wide...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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