Avalara Inc., a pioneer and leader in digital transaction tax compliance services, has filed for an initial public offering with the Securities and Exchange Commission.
The announcement comes as the field of transaction taxes – which include sales, value-added, goods and services taxes, and others – has gained a higher profile. The Supreme Court is expected to hand down a major ruling in the next couple of months on the taxation of remote sellers and internet sales, while governments around the world are moving to more- or all-digital tax reporting and compliance systems that closely integrate buyers, sellers and tax authorities.
The number of shares and price range of the Avalara offering have not been decided, but the company plans to list itself on the New York Stock Exchange with the ticker symbol AVLR.
Goldman Sachs & Co., J.P. Morgan and BofA Merrill Lynch will serve as book-running managers for the offering, with JMP Securities, KeyBanc Capital Markets and Stifel as co-managers.
Prospectuses are available from Goldman Sachs by email at
Avalara helps users calculate transaction taxes, manage exemption certificates, prepare returns and otherwise handle compliance requirements in the U.S. and in countries around the world. Headquartered in Seattle, it has five offices in the U.S., and offices in the U.K., Belgium, Brazil and India.
