How Does Tech Company Equity Pay Affect Income Tax Withholding? [EconTax Blog]

Nov 16, 2023 - The state ’s four largest tech companies —Apple, Google, Nvidia, and Meta —are currently worth more than $7 trillion. Including California ’s other large technology firms, the state ’s tech companies make up more than one-third of the total value of the Nasdaq 100 index, a list of the 100 most valuable companies listed on the Nasdaq stock exchange.
https://lao.ca.gov/LAOEconTax/Article/Detail/789

Overview of Efforts to Modernize EDD’s Benefit Systems [Publication Details]

Feb 24, 2026 - Overview of Efforts to Modernize EDD’s Benefit Systems [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/5135

Overview of Trial Court Construction and Facility Maintenance [Publication Details]

Feb 26, 2026 - Overview of Trial Court Construction and Facility Maintenance [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/5111

Office of Emergency Services: Next Generation 911 System [Publication Details]

Mar 5, 2026 - Office of Emergency Services: Next Generation 911 System [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/5151

The 2025-26 Budget: Department of Financial Protection and Innovation [Publication Details]

Apr 3, 2025 - The 2025-26 Budget: Department of Financial Protection and Innovation [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/5025

The 2026-27 Budget: Proposition 98 Guarantee and K-12 Spending Plan [Publication Details]

Feb 4, 2026 - The 2026-27 Budget: Proposition 98 Guarantee and K-12 Spending Plan [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/5110

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - Instead, much of the bounce appears to be tied to special forms of pay for high ‑income workers, such as bonuses and stock  compensation. Booming Stock Market Driving Income Growth. The recent run ‑up in the stock market, which appears tied to optimism surrounding artificial intelligence, is a primary driver of the rapid growth in pay to high ‑income workers.
https://lao.ca.gov/Publications/Report/4939

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

Mar 9, 2026 - Income Taxes Tend to Lag Major Market Turns by Up to a Year. State income tax growth typically lags stock market turning points by six to twelve months. Before past downturns, taxes have generally grown briskly, often due to the same stock market run-ups that preeceded the downturn.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - Income Taxes Tend to Lag Major Market Turns by Up to a Year. State income tax growth typically lags stock market turning points by six to twelve months. Before past downturns, taxes have generally grown briskly, often due to the same stock market run-ups that preeceded the downturn.
https://lao.ca.gov/LAOEconTax/article/Detail/852

2025 Update: Tech Company Stock Pay Accounts for One-Quarter of Withholding Growth So Far in 2025-26 [EconTax Blog]

Dec 3, 2025 - Source of Non-RSU Withholding Strength Remains Unclear, But Signs Point to Stock Market.   Non-RSU withholding is growing about 8 percent annually. The underlying source of this strength remains unclear — employment across the state has been essentially flat and total pay is up only about 2 percent annually.
https://lao.ca.gov/LAOEconTax/article/Detail/843