LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - 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 IP O.
https://lao.ca.gov/Recommendations/Details/596

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

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

^[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

The 2026-27 Budget: California Highway Patrol Proposals [Publication Details]

Mar 6, 2026 - In this post, we assess the Governor's California Highway Patrol budget proposals for (1) equipment and operating costs and (2) capital outlay projects.
https://lao.ca.gov/Publications/Detail/5152

The 2026-27 Budget: California Highway Patrol Proposals

Mar 6, 2026 - Despite the MVA ’s projected near-term stable condition, the account ’s surplus margins remain slim and the administration estimates it will become insolvent in 2028-29. These projected out-year shortfalls likely will make it challenging for the account to fund core expenses such as CHP salaries and could increase pressure to raise fees on drivers.
https://lao.ca.gov/Publications/Report/5152

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 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