The sun rose this morning, the Cubs are not in the World Series, and California’s budget is in crisis. All may not be well with the world, but we can count on some things remaining constant.

Also predictable: renewed positioning for new taxes to solve the budget deficit.

But if the Governor calls the Legislature into special session next month to address the deficit, they should be mindful that this year’s budget was predicated on nearly $6 billion in new or accelerated taxes on California businesses and investors. When it comes to taxing California’s employers, they gave at the office.

What are the tax changes?

Some offsetting reforms were adopted to mitigate the damage of the tax increases in several years, but for at least the duration of the economic contraction, many companies investing in jobs and operations in California – or who are attempting to emerge from their own contraction – will suffer higher tax bills.