Tuesday
May152012
California Could Take In $2 Billion From Facebook IPO
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(NEW YORK) -- California could net $2 billion in income taxes from Facebook’s IPO this week, according to published reports.
Gov. Jerry Brown's administration estimates that the state will receive $1.9 billion over the next 13 months. The Legislative Analyst's Office estimates the figure to be $2.1 billion.
And the buck doesn’t stop there. Between 2013 and 2015, California could rake in $800 million more and tens of millions annually through 2017, according to reports.
Copyright 2012 ABC News Radio
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