Google Stock Boom Boosts Calif. Coffers

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Someday, this era may simply be known as The Google Years. California, whose budget revenue slides up and down like a yo-yo with changes in capital gains and stock options, is once again counting on outsized income tax filings from a handful of tech executives to help balance its budget, the Associated Press reports.


For this wave, California can largely thank Google Inc.


After cashing in more than 9 million shares valued at $3.7 billion last year, 16 Google insiders will owe the Golden State as much as $380 million in taxes – enough to cover the salaries of more than 3,000 state workers.


Read the full Associated Press story

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