California tax windfall

Big chunk of record tax receipts from insiders’ stock sales

California took in a record $11.3 billion in personal income tax receipts in April, $4.3 billion more than it collected last April. It’s almost certain that a significant chunk of April’s haul came from Google employees — perhaps one-eighth or more of the tax receipt gain.

Fourteen of Google’s top executives and directors sold $4.4 billion worth of stock last year.

Another likely source of April’s tax take, which could be less volatile than stock-based capital gains, is real estate.

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