Frequently asked questions concerning Facebook and California's General Fund

Aug 1, 2012 - As such, the budget assumes the state receives about $1.9 billion in 2011-12 and 2012-13 combined due to the Facebook IPO and resulting taxable incom e. Of this $1.9 billion, approximately $1.5 billion results from current-law income  tax rates, with the remaining approximately $400 million relating to the budget plan 's assumption that voters approve the Governor 's proposed  tax measure, Proposition 30 , in the November election.
https://lao.ca.gov/Recommendations/Details/618

LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - Of the $1.9 billion, around $400 million would be generated as a result of the proposed higher tax rates under the Governor ’s tax initiative, and $1.5 billion would be generated under current law. The administration also forecasts that around $80 million would be generated in IPO-related PIT revenues i n both 2013-14 and 2014-15.
https://lao.ca.gov/Recommendations/Details/596

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

Of the $1.9 billion, around $400 million would be generated as a result of the proposed higher tax rates under the Governor ’s tax initiative, and $1.5 billion would be generated under current law. The administration also forecasts that around $80 million would be generated in IPO-related PIT revenues in both 2013-14 and 2014-15.
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

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

Proposition 4 [Ballot]

Nov 5, 2024 - Fiscal Effects Increased State Costs of About $400  Million Annually for 40 Years to Repay the Bond. The estimated cost to repay the bond would be about $400  million annually over a 40-year period .
https://lao.ca.gov/BallotAnalysis/Proposition?number=4&year=2024

^[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 2012-13 Budget: Economic and Revenue Update [Publication Details]

Feb 27, 2012 - Like the economic data, reports concerning state revenues have been mixed recently too, with weakness in income tax payments accompanied by speculation concerning a future bonanza of tax revenues due to the possible offering of stock by Facebook, Inc.
https://lao.ca.gov/Publications/Detail/2578