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 2022-23 Budget: State Water Resources Control Board—Bay-Delta Plan Update

Jan 31, 2022 - Key qu estions for the Legislature to discuss with the administration  include: What Is the Board ’s Time Line for Achieving Improved Outcomes in the Bay ‑Delta? Are  there actions that can be taken to expedite this time line?
https://lao.ca.gov/Publications/Report/4506

The 2020-21 Budget: Improving the State's Unpaid Wage Claim Process

Feb 19, 2020 - For example, the Legislature could set a standard that at least three-qu arters of workers who receive a hearing award are able to collect their unpaid wages. Benchmark standards such as this would allow the Legislature and the administration to evaluate the wage claim process and make updates as needed.
https://lao.ca.gov/Publications/Report/4165

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

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - This augmentation doubles funding for MHSOAC advocacy, which currently has programs supporting organizations that work with various other targeted populations, including: children; veterans; and lesbian, gay, bisexual, transgender, and qu eer communities, among others.
https://lao.ca.gov/Publications/Report/3870/6

Hydraulic Fracturing: How It Works and Recent State Oversight Actions

Dec 1, 2016 - The department ’s newly developed permit application requires operators to provide certain information including: (1) well location, type, and depth; (2) anticipated water source, volume, and disposal method; (3) a spill contingency plan covering well stimulation fluids; (4) anticipated chemicals used in the well stimulation fluids; (5) the fracture design; and (6) California Environmental Qu ality Act review.
https://lao.ca.gov/Publications/Report/3513

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