The short answer to the title question is No. Although from the way the press flaks for him you might believe the opposite. Now that I hear others repeating the press cover story that the upcoming Facebook IPO is going to balance the state’s budget I have to speak out. Facebook is a worldwide corporation that happens to be based in California. It is engaged in a constant battle with the other Internet behemoths such that it either must grow or die. One possible way of growing is to take the corporation public raising the financial resources to effectively compete. Thanks to past Wall Street scandals the process for going public with stock sales , known as the Initial Public Offering (IPO), is expensive and time consuming. The rumors are growing that Facebook will publish the preliminary filings in the next few weeks starting a minimum four month process before the IPO can occur. However, aside from the California corporate taxes that Facebook already pays, there is no taxable transaction in an IPO. The initial sale of stock from the corporation to the public does not generate any income and therefore no tax is due. There is no possible windfall for… Read More