LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - Typically, for state revenue forecasti ng, we analyze revenue and economic data using statistical tools (such as regressions based on historical experience) that aim to reveal the most likely level of state revenues, wi th roughly equal “upside ” and “downside ” to the estimate.
https://lao.ca.gov/Recommendations/Details/596

Summary of LAO Findings and Recommendations on the 2012-13 Budget

Typically, for state revenue forecasting, we analyze revenue and economic data using statistical tools (such as regressions based on historical experience) that aim to reveal the most likely level of state revenues, with roughly equal “upside ” and “downside ” to the estimate.
https://lao.ca.gov/laoapp/budgetlist/PublicSearch.aspx?PolicyAreaNum=70&KeyCol=596&Yr=2012

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

Frequently asked questions concerning Facebook and California's General Fund

Aug 1, 2012 - Frequently asked questions concerning Facebook and California's General Fund Frequently asked questions concerning Facebook and California's General Fund Program: Revenues Finding or Recommendation: This item lists answers to frequently asked questions concerning Facebook's stock and California's General Fund budget for 2012-13.
https://lao.ca.gov/Recommendations/Details/618

Background information on LAO's May 2012 economic and revenue forecasts

May 18, 2012 - Figure 6 compares the LAO May 2012 revenue estimate related to the Facebook IPO with those in other recent forecasts. The IPO was announced in February and thus was not included in the Governor ’s January 2012 forecast. ( Additional information on our May 2012 Facebook IPO revenue forecast was published on this website on May 15.)
https://lao.ca.gov/Recommendations/Details/599

^[PDF] The 2006-07 Budget: Perspectives and Issues

Fill Vacancies Before Adding More Positions In two instances, the administration is proposing adding new positions to offices that have a number of vacant positions for similar duties. Homeland Security Slow in Hiring Staff.
https://lao.ca.gov/analysis_2006/2006_pandi/pandi_06.pdf

^[PDF] The 1983-84 Budget: Perspectives and Issues

Pr.slden' pro Tempore Speaker 01 the Au.m/Jly 01 the Sem,t. Members of the Committee SENATORS ASSEMBLYMEN Weller W. Sliern, C~.,,,.,." Richard Roblnlon, Vice CIl",m." Allred E. Alqulll Art AIlRO. Robert G.
https://lao.ca.gov/analysis/1983/pandi_83_intro.pdf

The 2026-27 Budget: Child Welfare

Mar 3, 2026 - The Tiered Rate Structure will rely on data collected via the state ’s functional assessment tool —the Child and Adolescent Needs and Strengths (CANS) assessment —to determine a youth ’s needed level of care and corresponding rate, which will not depend on placement types.
https://lao.ca.gov/publications/report/5147

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