Page 467 - 2020-21 Budget Summary
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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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