The California Legislative Analyst’s Office, the state’s budget watchdog, expects Friday’s Facebook initial public offering to generate $2.1 billion in revenue for the state through the 2013 fiscal year.
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The state of California is hoping for another gold rush in the form of Facebook’s upcoming initial public offering, as a report by the California Legislative Analyst’s Office on the state’s 2012 to 2013 budget and revenue forecasts concluded that the IPO could bring the state up to $1 billion in revenue from personal income tax.
