California's technology companies, including giants like Apple, Google, Nvidia, and Meta, are some of the most valuable companies in the world and support thousands of high-paying jobs in the state. Many employees at these companies receive equity pay, such as stock options, as part of their compensation. State income tax withholding on this equity pay has grown notably, reaching 6 percent in the last few years. The recent jump in these companies' stock prices, which affects withholding on equity pay, has bolstered otherwise weak income tax withholding during 2023.
In this post, we display graphics displaying the 2013 income before deductions, as reported in state tax data, for each available California county. This post accompanies an explanatory note on these income distributions here.
We discuss the March 2016 jobs report, released by the California Employment Development Department and the U.S. Bureau of Labor Statistics.
We discuss a recent National Association of Counties report on county economies.