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

submitted 6 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 6 months ago

Delaware is considered as a tax haven.

[-] M500@lemmy.ml 2 points 6 months ago* (last edited 6 months ago)

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 6 months ago

Still a tax heaven.

[-] M500@lemmy.ml 1 points 6 months ago

Can you explain what makes it a tax haven?

this post was submitted on 02 Feb 2024

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