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

Frequently asked questions concerning Facebook and California's General Fund

Aug 1, 2012 - Frequently asked questions concerning Facebook and California's General Fund Frequently asked questions concerning Facebook and California's General Fund Program: Revenues Finding or Recommendation: This item lists answers to frequently asked questions concerning Facebook's stock and California's General Fund budget for 2012-13.
https://lao.ca.gov/Recommendations/Details/618

LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - State tax revenue estimates regarding Facebook, therefore, require numerous assumptions. Because of these factors, there is a large margin of error surrounding both our Facebook revenue estimates and those of the administration.
https://lao.ca.gov/Recommendations/Details/596

Summary of LAO Findings and Recommendations on the 2012-13 Budget

Essentially, to avoid “double counting ” the Facebook income, this means that both of our revenue estimates consider the economy without Facebook and then add PIT revenues on top of those estimates to account for the IPO.
https://lao.ca.gov/laoapp/budgetlist/PublicSearch.aspx?PolicyAreaNum=70&KeyCol=596&Yr=2012

The 2026-27 Budget: Child Care and State Preschool [Publication Details]

Mar 19, 2026 - In this brief, we assess the Governor’s 2026-27 proposals for child care and State Preschool and provide associated recommendations.
https://lao.ca.gov/Publications/Detail/5168

The 2026-27 Budget: Child Care and State Preschool

Mar 19, 2026 - In 2023 ‑24, the state redirected funding associated with the statutory COLA for all programs to cover costs of the monthly cost of care plus payments. In 2025 ‑26, the state used the estimated cost of the statutory COLA to provide a uniform increase in monthly cost of care plus payments to all providers.
https://lao.ca.gov/Publications/Report/5168

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - What Information Helps to Assess Costs and Benefits? This section describes the type of information the Legislature can gather to try to assess the costs and benefits of state programs. Once program costs and metrics are understood, the Legislature can weigh the benefits relative to the costs.
https://lao.ca.gov/Publications/Report/4983

Updating the California Necessities Index

Aug 14, 2025 - Second, like the current formula, alternatives should provide an intuitive way to judge changes in the cost of necessities. This provides transparency to benefit recipients when they assess changes to the funds they receive.
https://lao.ca.gov/Publications/Report/5065

Updating the California Necessities Index [Publication Details]

Aug 14, 2025 - Recent changes were made to the publication of statistics required to calculate the California Necessities Index, which is used to adjust certain benefit rates and cost-of-living adjustments. In this brief, we provide details on the changes and evaluate alternatives for the index that require only currently available data and conform to the original intent of the index.
https://lao.ca.gov/Publications/Detail/5065