How Long Do Firms Take from Founding to IPO? [EconTax Blog]

Aug 18, 2021 - While state revenues from IPOs are highly variable and difficult to forecast, the uptick in seed funding in recent years suggests the recent increase in IPO activity could continue. As the typical public firm takes about 8 to 10 years between its founding date and its IPO date, we likely have not yet seen all or even most of the IPOs associated with the recent increases in seed funding to California firms.
https://lao.ca.gov/LAOEconTax/Article/Detail/685

^[PDF] The 1989-90 Budget: Perspectives and Issues

This statement is prepared by the Auditor General, in conjunction with the seo, by "adjusting" the seo's "Legal/Budgetary Basis" financial statements for the major differ- encesin accounting treatments.
https://lao.ca.gov/analysis/1989/pandi_89_part4-3.pdf

LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - The Facebook IPO ’s Effect on the Economy About One-Fifth of 2012 Personal Income Growth Will Relate to the IPO. It appears that the bulk of income that will be attributable to Californians due to the IPO will be classified as a type of wage income, although there likely will be substantial c apital gains activity as well.
https://lao.ca.gov/Recommendations/Details/596

Summary of LAO Findings and Recommendations on the 2012-13 Budget

The Facebook IPO ’s Effect on the Economy About One-Fifth of 2012 Personal Income Growth Will Relate to the IPO. It appears that the bulk of income that will be attributable to Californians due to the IPO will be classified as a type of wage income, although there likely will be substantial capital gains activity as well.
https://lao.ca.gov/laoapp/budgetlist/PublicSearch.aspx?PolicyAreaNum=70&KeyCol=596&Yr=2012

The 2019-20 May Revision: LAO Revenue Outlook

May 12, 2019 - So far this year, California-based company IPOs have had almost $150  billion of market capitalization ($82  billion of which was from the recent Uber IPO). While IPOs can ultimately increase capital gains, the primary observable effect of IPOs is in withholding.
https://lao.ca.gov/Publications/Report/4037

Frequently asked questions concerning Facebook and California's General Fund

Aug 1, 2012 - All of the state 's Facebook revenue projections were developed prior to the IPO in May  in line with California 's standard budget calendar. As such, both  the administration and our office had to make assumptions about what would happen to Facebook 's stock price in the months following the IPO.
https://lao.ca.gov/Recommendations/Details/618

Why is Venture Capital Funding a Useful Economic Indicator? [EconTax Blog]

Feb 18, 2021 - Over the longer term, VC funding can significantly impact state revenue through another channel: initial public stock offerings (IPOs) of privately held firms. When a firm goes public through an IPO, its owners and employees will typically realize large gains from stock options, and these gains are taxable as ordinary income under state and federal law.
https://lao.ca.gov/LAOEconTax/Article/Detail/626

Income Tax Withholding Tracker: November 1 - November 30 [EconTax Blog]

Nov 30, 2021 - We note that IPO-rela ted withholding on employees ’ ‘restricted stock units ’ is due on the date that the stock units vest, which may be later than the company ’s IPO date. The next graph shows cumulative withholding since the start of the fiscal year compared to the same dates in 2020-21 and 2019-20.
https://lao.ca.gov/LAOEconTax/Article/Detail/719

Income Tax Withholding Tracker: October 1 - October 31 [EconTax Blog]

Nov 3, 2021 - We note that IPO-related withholding on employees ’ ‘restricted stock units ’ is due on the date that the stock units vest, which may be later than the company ’s IPO date. The next graph shows cumulative withholding since the start of the fiscal year compared to the same dates in 2020-21 and 2019-20.
https://lao.ca.gov/LAOEconTax/Article/Detail/710

Income Tax Withholding Tracker: September 1 - September 24 [EconTax Blog]

Sep 24, 2021 - We note that IPO-related withholding on employees ’ ‘restricted stock units ’ is due on the date that the stock units vest, which may be later than the company ’s IPO date. The next graph shows cumulative withholding since the start of the fiscal year compared to the same dates in 2020-21 and 2019-20.
https://lao.ca.gov/LAOEconTax/Article/Detail/702