Monday, April 18, 2016

California personal income taxes

Two-thirds of California's overall tax revenue comes from personal income taxes, with the top fifth of income earners paying 90% - and the top one percent paying 45% - of these taxes.

Source: The tax man cometh, and California rich – getting richer – pay most

See how California compares to other U.S. states, including the seven that have no personal income tax, here:
2016 Top State Marginal Income Tax Rates.

Thursday, April 14, 2016

State of the San Francisco and Los Angeles, California Legal Markets 2015 / 2016

A recent survey of 15,000 California lawyers uncovered the following statistics concerning the Los Angeles and San Francisco legal markets and the lawyers who work there:
New business growth slowed by 16 percent in Los Angeles and 26 percent in San Francisco; however, growth in Los Angeles (2.7 percent) was still lower than San Francisco (6.7 percent) in 2015;

Los Angeles has one lawyer per 23 businesses, while San Francisco has one lawyer per eight businesses;

Growth in the number of newly barred attorneys in 2015 was comparable in Los Angeles (1.6 percent) and San Francisco (1.4 percent);

The number of newly barred attorneys across all of California in 2015 was the lowest it has been in 10 years;

Hourly billing rates are slightly higher in Los Angeles (on average $302 - $410) than in San Francisco (on average $293 - $408); and

Customer satisfaction with legal services in both Los Angeles (86 percent) and San Francisco (84 percent) is slightly higher than the California average (82 percent).
Source: UpCounsel's 2016 Los Angeles Business Law Report.

Monday, April 4, 2016

2016 California Minimum Wage Increase

California has implemented legislation that is slated to increase the state minimum wage to $10.50 for larger employers on January 1, 2017, with employers of 25 or less employees following behind a year later. Further annual increases will push the state's minimum wage to $15.00 per hour by year 2022.

That is, unless the law's economic downturn provisions delay the implementation of the increases. After the $15.00 level is reached in 2022 (2023 for small employers) - or later if the governor delays implementation of the increases - then further increases tied to inflation will occur automatically.

Either way, Los Angeles' minimum wage law will increase the city minimum wage to $10.50 on July 1, 2016, with phased increases to $15.00 by 2020, and a similar Los Angeles County law will do the same thing outside of city limits.

The current California minimum wage can always be viewed on the Department of Industrial Relations website. Employers must generally comply with the highest of the U.S. federal, California state, or local city minimum wage where their employees work.

Jerry Brown Signs $15 Minimum Wage in California, Sacramento Bee, April 4, 2016:
California and New York become first states to commit to $15 minimum wage;

Bill expected to avert costly November ballot measure fight;

Labor unions celebrate, while Republicans and business groups groan