California Budget Update—Includes Major Tax Increases

In this episode of GeTin' SALTy, host Nikki Dobay is once again joined by Peter Blocker, Vice President of Policy at the California Taxpayers Association (CalTax), for a discussion of the recently passed California budget. Although California Governor Gavin Newsome stated he would reject tax increases, the budget as passed includes significant tax increases. Peter and Nikki discuss those tax increases, including the NOL suspension and credit cap as well as the sweeping changes made to California's apportionment provisions. Peter also provides an overview of what is anticipated for the rest of California's legislative session. Finally, the two discuss their guilty pleasure roadtrip foods!   GeTtin' SALTy will take a short summer hiatus for the July 4 holiday. We will be back in mid-July with more state tax policy updates.