Where Bright Machines sits today
Bright Machines is a late-stage Robotics company headquartered in CA. An active secondary market gives employees a path to partial liquidity before IPO through platforms like Forge, Hiive, EquityZen, or company-run tender offers.
What Texas residency changes
Texas has no state wage income tax. A Bright Machines liquidity event while you're a Texas resident means federal-only exposure (up to 37% on RSU settlement plus 3.8% NIIT on capital gains). That's a meaningful structural advantage compared with CA or NY residents.
QSBS and Texas
Texas has no state income tax, so QSBS treatment applies only at the federal level. Section 1202 exclusion produces the full benefit here with no state claw-back.
Moves to make before the liquidity event
Adopt a 10b5-1 plan during the last open window before Bright Machines's S-1 (90-day cooling-off for non-officers, 120 days for officers/directors). Model federal AMT before any ISO exercise. Maximize after-tax 401(k) contributions in the months before IPO, while your ordinary income is still at the pre-IPO baseline. A move into a high-tax state before IPO will cost you meaningfully on the equity vest; stay in Texas through the settlement year if possible.