Advocating for the profession CalCPA watch: sales tax report.

The nonpartisan Legislative Analyst's Office recently released a report detailing why the state's sales tax revenue is growing slower than the overall state economy. The report particularly focuses on the fact that California consumers are spending a growing share of their income each year on nontaxable items, especially services, and a declining share of their income on taxable goods. While no specific proposals to modify the state's sales and use tax...