According to CNBC, as potential IPOs of technology companies such as SpaceX, OpenAI, and Anthropic approach, California is expected to see tax growth. The listing of SpaceX may become a historic tax source for California, but due to the impact of employee equity structure and tax avoidance behavior, the tax model is shifting from centralized outbreaks to long-term dispersion. The California Department of Finance and Office of Legislative Analysis pointed out that compared to Facebook's 2012 IPO, which brought in approximately $1.3 billion in taxes, the actual revenue from the current mega IPO may be more dispersed and difficult to predict.
