California To Cash In If Facebook Stock Goes Public

LOS ANGELES (CBS) — California’s economy will likely improve if Facebook stock goes public.

Sources say the world’s largest social networking site is preparing for an initial public stock offering.

If so, the California Treasury would take in hundreds of millions of dollars in capital gains taxes from Facebook investors and employees.

Analysts say the “Facebook effect” would mean a big boost to the state budget.

However, the benefits might not be seen for a couple of years.


Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Los Angeles

KNX 1070 Newsradio

Listen Live