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

Cannabis Tax Revenue Update (2025 Q4) [EconTax Blog]

Feb 26, 2026 - The administration currently estimates that retail excise tax revenue was $145 million in the fourth quarter of calendar year 2025 (October through December). Preliminary revenues tend to differ modestly from actual revenues for various reasons, such as delays in filing or payment.
https://lao.ca.gov/LAOEconTax/Article/Detail/851

Cannabis Tax Revenue Update (2025 Q4) [EconTax Blog]

Feb 26, 2026 - The administration currently estimates that retail excise tax revenue was $145 million in the fourth quarter of calendar year 2025 (October through December). Preliminary revenues tend to differ modestly from actual revenues for various reasons, such as delays in filing or payment.
https://lao.ca.gov/LAOEconTax/article/Detail/851

Firearms and Ammunition Revenue Update (2025 Q4) [EconTax Blog]

Feb 18, 2026 - Firearms and Ammunition Revenue Update (2025 Q4) [EconTax Blog] Firearms and Ammunition Revenue Update (2025 Q4) February 18, 2026 Seth Kerstein Beginning July 2024, Chapter 231 of 2023 (AB 28, Gabriel) imposed an 11 percent excise tax on retail sales of firearms, firearm precursor parts, and ammunition, with some exemptions.
https://lao.ca.gov/LAOEconTax/article/Detail/849

Firearms and Ammunition Revenue Update (2025 Q4) [EconTax Blog]

Feb 18, 2026 - Firearms and Ammunition Revenue Update (2025 Q4) [EconTax Blog] Firearms and Ammunition Revenue Update (2025 Q4) February 18, 2026 Seth Kerstein Beginning July 2024, Chapter 231 of 2023 (AB 28, Gabriel) imposed an 11 percent excise tax on retail sales of firearms, firearm precursor parts, and ammunition, with some exemptions.
https://lao.ca.gov/LAOEconTax/Article/Detail/849

California Community Colleges Capital Outlay Projects [EdBudget]

Mar 10, 2026 - The 2023-24 budget authorized $112 million in state funding from UC revenue bonds for this project. The 2025-26 budget replaces $87.5 million of this amount with Proposition 2 funds. The project retains $24.3 million in previously allocated General Fund support.  
https://lao.ca.gov/Education/EdBudget/Details/1025

The 2026-27 Budget: Cap-and-Invest Expenditure Plan

Feb 10, 2026 - Most notably, because including state operations expenditures as part of Tier 1 means they receive first priority for available GGRF, adding new activities to this category can have the effect of gradually “crowding out ” other GGRF ‑funded programs and activities.
https://lao.ca.gov/Publications/Report/5114

Special taxes. [Ballot]

Jan 27, 2026 - Net costs or savings resulting from the measure would depend on (1) how many special tax initiatives qualify for a one-time audit but are not approved by voters, (2) the number of pages that are added to the Voter Information Guide each election cycle, and (3) the level of savings that are identified and implemented as a result of the audits.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-040

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - The added risk variable weighs on the range of revenue outcomes that we view as most plausible. The middle of the range, which becomes our main revenue forecast, is thus lower than if we did not include the stock market risk indicator.
https://lao.ca.gov/Publications/Report/5104