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Musk says Tesla will hold shareholder vote ‘immediately’ to move company’s incorporation to Texas (www.forbes.com.au)

submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Musk says Tesla will hold shareholder vote ‘immediately’ to move company’s incorporation to Texas::Billionaire Elon Musk justified the decision on the results of an unscientific poll run on his X account a day earlier.

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[–] topinambour_rex@lemmy.world 20 points 9 months ago (1 children)

Delaware is considered as a tax haven.

[–] M500@lemmy.ml 2 points 9 months ago* (last edited 9 months ago) (1 children)

I think it’s because Delaware has really lax laws on incorporating and a special court just for corporate stuff so legal issues can get sorted quickly.

edit

Like in Delaware you can incorporate for like $500 a year and not even need to provide the names of the officers or ceo of the corporation.

[–] topinambour_rex@lemmy.world 1 points 9 months ago (1 children)

Still a tax heaven.

[–] M500@lemmy.ml 1 points 9 months ago

Can you explain what makes it a tax haven?