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

1st Quarter 2021 Personal Income Report [EconTax Blog]

Jun 28, 2021 - Transfer payments are defined as government payments that don ’t represent compensation for services performed by the recipient. Normally dividends, interest, and rent account for the second largest share of income, but this category was considerably smaller than transfer payments in the first quarter.  
https://lao.ca.gov/LAOEconTax/Article/Detail/671

3rd Quarter 2020 Personal Income Report [EconTax Blog]

Feb 4, 2021 - Transfer payments are defined as government payments that don ’t represent compensation for services performed by the recipient. Normally dividends, interest, and rent account for the second largest share of income, but this category was slightly smaller than transfer payments in the third quarter.  
https://lao.ca.gov/LAOEconTax/Article/Detail/620

Updated "Big Three" Revenue Outlook [EconTax Blog]

Aug 21, 2023 - …Until They Don ’t. History, however, offers an additional lesson: asset price fueled revenue surges do not last and typically end in a bust. Not long after the big upgrade in May 2000, revenues dropped $13 billion (18 percent) in 2001-02.
https://lao.ca.gov/LAOEconTax/Article/Detail/777

Updated "Big Three" Revenue Outlook [EconTax Blog]

Aug 21, 2023 - …Until They Don ’t. History, however, offers an additional lesson: asset price fueled revenue surges do not last and typically end in a bust. Not long after the big upgrade in May 2000, revenues dropped $13 billion (18 percent) in 2001-02.
https://lao.ca.gov/LAOEconTax/article/Detail/777

Overview of Wildfire Prevention and Response Funding [Publication Details]

Apr 8, 2026 - Overview of Wildfire Prevention and Response Funding [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/5173

Major H.R. 1 Changes in CalFresh [Publication Details]

Apr 8, 2026 - Major H.R. 1 Changes in CalFresh [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/5174

H.R. 1 Financing Impact on Medi-Cal Providers [Publication Details]

Apr 6, 2026 - H.R. 1 Financing Impact on Medi-Cal Providers [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/5172

The 2026-27 Budget: Bureau for Private Postsecondary Education [Publication Details]

Mar 25, 2026 - The 2026-27 Budget: Bureau for Private Postsecondary Education [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/5169