Another Marijuana Initiative Bogarted

An initiative that would have capped punishment for possession, cultivation, transportation or sale of up to two ounces of marijuana at either a $250 fine or community service failed to secure the 504,760 need to make the ballot.

The measure proposed higher penalties for those under 21 years of age: A maximum of  six months in county jail and/or a $500 fine.    Read more »

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A Happy Day at the Franchise Tax Board

April 18 was a happy day for state tax collectors as the Franchise Tax Board received $1.6 billion in payments – more than doubling the previous day’s $751 million.

Payment volume should continue to be high as the state sifts through the returns filed on April 17th, the payment deadline.

To date in April, the Franchise Tax Board reports collecting almost $3.9 billion — $4.5 billion less than Gov.    Read more »

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Bullet Train Dodges Legislative Bullet But Takes a Hit on Its Business Plan

On the same day a GOP lawmaker failed to advance legislation to allow voters to rescind $9.95 billion in bonds approved to construct a high-speed rail project in California, legislative budget writers said the project hasn’t provided “sufficient detail and justification” for seeking $5.9 billion to begin construction this year.

The report by the Legislative Analyst preceded scheduled votes on the project by budget subcommittees in both houses of the Legislature April 18.    Read more »

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It’s Tax Day And the State Gets a Nice Revenue Bump

Not all Californians procrastinated paying their taxes by April 17.

The state reported collecting more than $751 million on the 17th – the highest single day of receipts so far this month.

Payment volume should spike even higher after the 17th.

To date in April, the Franchise Tax Board reports collecting more than $2.3 billion — $6.1 billion less than Gov.    Read more »

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The Zero Effect

“Over the years, a number of smart people have learned the hard way that a long stream of impressive numbers mulitplied by a single zero always equals zero.”

                                            –Warren Buffett    Read more »

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State’s Daily Tax Receipts Begin End-of-the-Month Climb

With one day before April 17th’s tax filing deadline, the state reported receiving almost $455.5 million over the weekend, boosting the month’s collections to nearly $1.6 billion.

April is by far the largest month of the year for income tax receipts. Gov. Jerry Brown’s budget predicts $9.4 billion in both payments to the Franchise Tax Board and withholding from employee paychecks, which is sent by employers to the Employment Development Department.    Read more »

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The Richard “Fresh Air” Janson Memorial Bridge

Drivers passing over the Sonoma Creek Bridge on Highway 37 between Novato and Vallejo may notice the bridge is named after Richard “Fresh Air” Janson.

Janson, who died in 1951, was a carver of duck decoys.  Janson’s work was the ‘gold standard’ against which all other Pacific Coast decoys are evaluated,” according to Assembly Concurrent Resolution 68 of 1996 naming the bridge in Janson’s honor.    Read more »

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Jason Hodge, Democratic Candidate for the 19th Senate District    Read more »

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Budget Hole Deepens, Increasing Importance of April Collections

Making April tax receipts even more important, revenues collected by the state in March were $236 million below the nearly $6 billion estimated in the budget, the state Department of Finance said April 13.

Since the beginning of the current fiscal year on July 1, revenues are almost $900 million below projections.    Read more »

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Tax Time Is Also Crunch Time for the State

This month, California taxpayers will be a major determiner of  how deeply state services, including support for public schools, will be cut beginning July 1.

For obvious reasons, April is the state’s biggest single month for income tax collections. Budget writers are counting on over $9.4 billion

Counting all sources of taxes – sales, income and business – nearly $12.1 billion is expected to flow into state coffers by April 30, $100 million less than the nearly  $12.2 billion predicted for June.    Read more »

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