How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2022-23 Budget: Office of Planning and Research Budget Proposals

Feb 9, 2022 - To increase awareness about the program and to recruit volunteers, California Volunteers would develop a robust marketing campaign using social media platforms, such as Facebook and Ring Neighborhoods, and provide communications support to neighborhood leaders. $1.5   Million for Digital Infrastructure.
https://lao.ca.gov/Publications/Report/4523

The 2021-22 Budget: Hastings College of the Law

Feb 22, 2021 - The remaining $276, 618 i s for emergency student financial aid. Hastings Has Largely Addressed Budget Shortfalls by Using Reserves. On its core budget, Hastings anticipates deficit spending of $2. 2  m illion (3. 6  p ercent of annual spending) in 2020 ‑21, leaving $10. 7  m illion in its core unrestricted operating reserve (about two months of annual spending).
https://lao.ca.gov/Publications/Report/4383

The 2021-22 Budget: California Community Colleges

Feb 16, 2021 - Chapter   618 p rohibits students in a CCAP program from being charged either enrollment fees or fees for textbooks and other instructional materials. To form a CCAP program, school and community college districts must agree to a memorandum of understanding (MOU).
https://lao.ca.gov/Publications/Report/4372

Fiscal Outlook: Estimating Wages and Salaries [EconTax Blog]

Nov 14, 2018 - We expect workers in technology sector jobs —which includes firms conducting data processing, software development, and web search, like Google and Facebook —to see strong growth in both average wages and jobs.
https://lao.ca.gov/LAOEconTax/Article/Detail/321

Perspectives on the CalSTRS funding scenarios discussed at the March 19, 2014 joint hearing.

Mar 19, 2014 - Various CalSTRS estimates showed how total costs would grow for plans that aim to pay off the unfunded liabilities over longer time frames, as fo llows: 20-year paydown plan: $182 billion of total costs 30-year paydown plan: $236 billion 40-year paydown plan: $320 billion 50-year paydown plan: $442 billion 60-year paydown plan: $618 billion Note: Plans listed above are those with an assumed  state contribution to defined benefits of 4.607 percent of teacher payroll per year.
https://lao.ca.gov/Recommendations/Details/800

California's December income tax collections were quite strong

Jan 7, 2014 - Both the budget act projections and our office 's November 2013 revenue projections assumed that net capital gains received by California residents would decline substantially in 2013, given that 2012 results were elevated due to changes in federal tax policy and the Facebook initial public offering, among other factors.
https://lao.ca.gov/Recommendations/Details/775

Update on strong California capital gains tax collections in September

Sep 30, 2013 - (This 3.7 percent growth figure i s over 1 percentage point lower than it would be otherwise due to the one-time effects on withholding from Facebook, Inc. ’s initial public offering last year, principally in October.
https://lao.ca.gov/Recommendations/Details/774

May income tax collections, to date, are above Governor's projections

May 30, 2013 - Withholding for May 2013  has totaled  about $3.48 billion, which is  $67 million (2 percent) above May 2012 levels, despite the fact that May 2012 is believed to have included a few hundred million dollars of nonrecurring PIT withholding resulting from Facebook, Inc. ’s initial public offering.
https://lao.ca.gov/Recommendations/Details/771