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 2021-22 Budget: Overview of the Governor's Budget

Jan 10, 2021 - Second, in considering the student behavioral health proposal, the Legislature may wish to ask the administration whether Medi-Cal managed care plans would have the capacity to meet the requirements to receive the incentive payments given the significant added responsibilities they may receive under the administration ’s CalAIM proposal.
https://lao.ca.gov/Publications/Report/4309

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

The 2026-27 Budget: Child Welfare

Mar 3, 2026 - Family First Prevention Services State Block Grant $222.4 million one ‑time in 2021 ‑22, available through June 30, 2028. Complex Care Needs: $18.1 million ongoing beginning in 2021 ‑22. County Capacity Building $43.2 million one ‑time in 2021 ‑22, available through June 30, 2026.
https://lao.ca.gov/publications/report/5147

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 2021-22 Budget: Department of Forestry and Fire Protection [Publication Details]

Feb 4, 2021 - The 2021-22 Budget: Department of Forestry and Fire Protection [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/4343

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - Second, any unawarded credits from the previous fiscal year can be added to the pool of available credits for the current fiscal year. Credit Pool Has Ballooned to over $923  million for the Current Year.
https://lao.ca.gov/Publications/Report/5162

COVID-19: American Rescue Plan’s Major Health-Related Funding Provisions

May 6, 2021 - The ARP Act also makes available $15  million in planning grant funding available nationwide for states to develop strategies (such as Medicaid state plan amendments or amendments to federal Medicaid waivers) for adding mobile crisis services to their state Medicaid programs.
https://lao.ca.gov/Publications/Report/4425