Looks like California is going to profit from Facebook going public. The estimates have it that the IPO could net the state $2.45 billion from income taxes.

Facebook hasn't sold any stock just yet, so the estimates are just an educated guess. But since the IPO would create a number of new millionairs and billionaires for the state, there's a considerable amount of money to be made from taxes.

The Atlantic's Alexis Madrigal points out, no matter how the IPO goes, "Facebook going public will be great for a state that needs to close a multi-billion dollar budget gap over the next couple of years." [The Atlantic]

Image: Alexis Madrigal/The Atlantic