Fiscal Outlook: Estimating Wages and Salaries [EconTax Blog]

Nov 14, 2018 - We expect workers in technology sector jobs —which includes firms conducting data processing, software development, and web search, like Google and Facebook —to see strong growth in both average wages and jobs.
https://lao.ca.gov/LAOEconTax/Article/Detail/321

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The figures includes corrections (stock market decline of more than 10 percent) and bear markets (decline of more than 20 percent) that lasted more than a few months. The figure excludes short-lived corrections such as the three-month downturn at the start of the pandemic.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The figures includes corrections (stock market decline of more than 10 percent) and bear markets (decline of more than 20 percent) that lasted more than a few months. The figure excludes short-lived corrections such as the three-month downturn at the start of the pandemic.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - If the Facebook IPO were excluded, this figure would total 4.0 perce nt. Accordingly, around 20 percent of the state ’s personal income growth in 2012 —and nearly 1 percent of all personal income in the state   this year —is expected to be related to Facebook.
https://lao.ca.gov/Recommendations/Details/596

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

If the Facebook IPO were excluded, this figure would total 4.0 percent. Accordingly, around 20 percent of the state ’s personal income growth in 2012 —and nearly 1 percent of all personal income in the state   this year —is expected to be related to Facebook.
https://lao.ca.gov/laoapp/budgetlist/PublicSearch.aspx?PolicyAreaNum=70&KeyCol=596&Yr=2012

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

The 2019-20 Budget: Overview of the Governor's Budget

Jan 14, 2019 - Figure 4 Summary of Governor ’s Disaster ‑Related Proposals for 2019 ‑20 ( In Millions)
https://lao.ca.gov/Publications/Report/3916

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

Fiscal Outlook: Key Economic Assumptions [EconTax Blog]

Nov 14, 2018 - We show the key economic assumptions underlying our new Fiscal Outlook for California.
https://lao.ca.gov/LAOEconTax/Article/Detail/317

Fiscal Outlook: Focus on Revenues [EconTax Blog]

Nov 14, 2018 - Expect Revenue Growth to Continue in 2019-20. Figure 2 shows our estimates for 2019-20. Consistent with our economic assumptions, General Fund revenues increase by 5.5 percent from 2018-19 to 2019-20.
https://lao.ca.gov/LAOEconTax/Article/Detail/318