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What’s the difference between income and wealth? Taxes for individuals and corporations in California? Tax credits and deductions? Understanding these key terms is critical to navigating the state budget and its intersection with California’s tax and revenue system to generate ongoing resources and provide quality education, affordable health care, child care, housing, and other services for communities.

Key Terms

Tax Justice Explained

Read our 5 Facts: California’s Tax and Revenue System Isn’t Fair for All to understand how elements of California’s tax and revenue system further or impede the goals of economic and racial equity for households, communities, and the state.

Watch our Empower 2021: Race, Taxes & Wealth — Reimagining California’s Prosperity to learn how the state’s current tax structures perpetuate wealth and racial disparities and how policymakers can work toward building a more equitable California.

Read our Report: Why Aren’t Large Corporations Paying Their Fair Share of Taxes? to see how far corporate taxes have fallen as a share of corporate profits in California and reasons for the decline.

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