Frequently asked questions concerning Facebook and California's General Fund

Aug 1, 2012 - Facebook 's IPO  clearly is resulting in significant new tax revenue for the state. Accordingly, given the goal of developing an accurate revenue estimate, an effort to estimate Facebook-related r evenues was necessary.
https://lao.ca.gov/Recommendations/Details/618

^[PDF] The 1989-90 Budget: Perspectives and Issues

:~Jl~,ct~diJQ'Y~r~11;l,lJ.9;~P.J'siE~tg(;lcJ¢Y~1~"i.()f..capital ,g~,t!!,~!p.S2m¥"r,~~~z,~gJ~K~t:lt~J~~p~y~r~.Foods which had been a.ppi-o- ,pHated; to 'the SFEU were' redireCted to cover the shortfall, and' several actions were taken by the administration to reduce or delay expenditures.
https://lao.ca.gov/analysis/1989/pandi_89_part1.pdf

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

LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - State tax revenue estimates regarding Facebook, therefore, require numerous assumptions. Because of these factors, there is a large margin of error surrounding both our Facebook revenue estimates and those of the administration.
https://lao.ca.gov/Recommendations/Details/596

^[PDF] Overview of Enforcement of Firearm and Ammunition Laws

., Chair P R E S E N T E D T O : L E G I S L A T I V E A N A L Y S T ’ S O F F I C E Overview of Enforcement of Firearm and Ammunition Laws J A N U A R Y 3 1 , 2 0 2 3 L E G I S L AT I V E A N A LY S T ’ S O F F I C E 1 Overview of California Firearm and Ammunition Laws Restrictions on Firearm and Ammunition Possession „ Under federal and state law, certain individuals are not allowed to have firearms.
https://lao.ca.gov/handouts/crimjust/2023/firearm-ammunition-enforcement-overview-013123.pdf

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

Essentially, to avoid “double counting ” the Facebook income, this means that both of our revenue estimates consider the economy without Facebook and then add PIT revenues on top of those estimates to account for the IPO.
https://lao.ca.gov/laoapp/budgetlist/PublicSearch.aspx?PolicyAreaNum=70&KeyCol=596&Yr=2012

The 2022-23 Budget: Temporary Limits on Business Tax Provisions

Jan 26, 2022 - This 2022-23 budget post provides background on temporary limits on the use of net operating loss deductions and business tax credits. It describes the Governor’s proposal to lift these limits one year early and provides some comments to the Legislature.
https://lao.ca.gov/Publications/Report/4500

App-based rideshare and delivery drivers. [Ballot]

Dec 18, 2019 - Background App-Based Rideshare and Delivery App-Based Rideshare and Delivery. Some companies now allow customers, using a smartphone application ( “app ”), to hire someone to provide a service. The most common work done this way is personal transportation ( “ridesharing ”) and food delivery.
https://lao.ca.gov/BallotAnalysis/Initiative/2019-026

The 2026-27 Budget: Department of Justice

Feb 11, 2026 - A large portion of the General Fund support is used to support the Armed and Prohibited Persons System (APPS) enforcement teams, which seize firearms from people prohibited from owning or possessing them.
https://lao.ca.gov/Publications/Report/5118