Page 467 - 2020-21 Budget Summary

Revenue Forecast Report
Discussion

• Fiscal Year 2019-20
Business Tax Non Cannabis Business tax
receipts are estimated to be Business Tax
$581 million based on average 3
years February-June change, an
increase of 3.78%. $81,280 $83,565 $86,796
Cannabis Business Tax is
estimated to be $84 million
based on year-to-date collection
trend. $575,870 $580,742 $603,196
• Fiscal Year 2020-21
Non Cannabis Business tax
receipts are estimated to be FY 2019-20 FY2019-20 FY2020-21
$603 million assuming an
increase of $3.87%, average 3 Adopted Estimated Projected
years annual increase. Budget Reciepts Receipts
Cannabis Business Tax is
estimated to be $87 million Cannabis Business Tax
based on the same assumption Non-Cannabis Business Tax
as above.

Sales Tax • Fiscal Year 2019-20
Sales and use taxes are
estimated to be $604 million Sales Tax
based on actual year-to-date $626,543
receipts and a 3% increase of
fiscal year 2018-19 Mar-Jun $604,188
receipts, per UCLA taxable sales
forecast. $589,790
• Fiscal Year 2020-21
Sales and use taxes are
projected to be at $627 million, FY 2019-20 FY2019-20 FY2020-21
a 3.7% increase over 2019-20
estimated receipts, per UCLA Adopted Estimated Projected
taxable sales forecast. Budget Reciepts Receipts

Transient • Fiscal Year 2019-20
Occupancy Current Year estimate of $264
Tax (TOT) - million is based on year-to-date Transient Occupancy Tax
Hotels collection trend, which reflects $272,000 $271,969
3.05% growth from 2018-19.
• Fiscal Year 2020-21 $263,917
$272 million projection is based
on the same 3.05% growth rate
from estimated 2019-20. FY 2019-20 FY2019-20 FY2020-21
Adopted Estimated Projected

Budget Reciepts Receipts

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