Summary Box: Calif. windfall from Facebook IPO

MONEY FOR CALIFORNIA: If Facebook goes public this year, as expected, the state stands to reap hundreds of millions of dollars in capital gains taxes from Facebook investors and employees profiting from stock sales.

FAVORING IT IN: The nonpartisan Legislative Analyst’s Office this week released a report that considered historical income trends but also budgeted for a revenue bump on the assumption that Facebook and other California companies will go public.

THE NEED: The state is facing a $9.2 billion deficit.