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Wednesday, May 23, 2012

Facebook Stock Could Hurt California Budget

California's budget could take a hit if Facebook's stock price keeps sliding.

Gov. Jerry Brown previously estimated the state would generate between $1.4 billion and $1.9 billion over the next 13 months from taxes related to sales of Facebook stock. The estimate was based on a price of $35 a share.

Facebook went public Friday at $38 a share but closed at $31 on Tuesday.

Last week, the nonpartisan Legislative Analyst's Office warned that a number of uncertainties could cause the state's deficit to be several billion dollars higher or lower than the governor's $15.7 billion estimate.
 
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5 comments:

  1. AnonymousMay 23, 2012 at 3:34 PM

    That's called "Don't count your chickens till they hatch".

    ReplyDelete
  2. AnonymousMay 23, 2012 at 4:03 PM

    They can sue FB for tax evasion.....

    ReplyDelete
  3. AnonymousMay 23, 2012 at 4:29 PM

    Would not expect anything different from Gov. Jerry Brown.

    ReplyDelete
  4. AnonymousMay 23, 2012 at 4:29 PM

    They can sue all the white collar scamers who tricked people into buying the stock.

    ReplyDelete
  5. AnonymousMay 24, 2012 at 9:38 AM

    Like many things, facebook will become an old habit people will break once they are tired of it

    ReplyDelete

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