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FB IPO to bring 2.5 billion to Calfiornia

     
12:23 pm on Mar 7, 2012 (gmt 0)

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California state budget analysts report that Facebook's impending IPO will bring the state a tax windfall of nearly $2.5bn.

"Facebook's possible IPO ... [is] likely to generate substantial capital gains and other income for a small number of Californians and, in so doing, generate additional state tax revenues over the next few years," concludes a recent report from the California Legislative Analyst's Office (LAO).

[theregister.co.uk...]