Would be interesting. HQ is already in TX. Also have Boca.

The public vote is unequivocally in favor of Texas!

Tesla will move immediately to hold a shareholder vote to transfer state of incorporation to Texas. https://t.co/ParwqQvS3d

— Elon Musk (@elonmusk) February 1, 2024

Where are they currently incorporated? I'm assuming Delaware or California.

bmks270 said:

---

Where are they currently incorporated? I'm assuming Delaware or California.

---

Delaware. A Delaware judge recently ruled that Elon's compensation package was too high.

Delaware playing dumb**** liberal games and winning dumb**** liberal prizes

Kinda seems petty

By Delaware courts or X?

Good for Elon.

Don't bring the coastal employees with you though. Hire locally from Texas.

It'll be blocked by the same judge.

Elon will have to take it through the Federal court system.

Delaware is pulling political attack shenanigans on Elon so he's going to file articles of incorporation elsewhere.

rgag12 said:

---

Kinda seems petty

---

If the shareholders can't run the corporation the way they want, which they obviously can't, then it makes no sense to stay in DE.

rgag12 said:

---

Kinda seems petty

---

When a state government tries to interfere and dictate a private sector businesses employee compensation, it's perfectly logical to move said business to a state that knows its limits and offers a better business climate.

Petty is government going after a private sector person they don't like because of their politics. Actually, tyranny is a better word.

Ag87H2O said:

---

rgag12 said:

---

Kinda seems petty

---

When a state government tries to interfere and dictate a private sector businesses employee compensation, it's perfectly logical to move said business to a state that knows its limits and offers a better business climate.

Petty is government going after a private sector person they don't like because of their politics. Actually, tyranny is a better word.

---

That and the shareholders approved it. It's not even judicial overreach. Pure politics from the bench and is disgusting.

rgag12 said:

---

Kinda seems petty

---

By Tesla or Delaware?

Señor Chang said:

---

bmks270 said:

---

Where are they currently incorporated? I'm assuming Delaware or California.

---

Delaware. A Delaware judge recently ruled that Elon's compensation package was too high.

---

How is a judge in charge of a public company compensation?

This is the kind of thing that could ruin Delawares status as the place where everybody incorporates. I wonder how many huge companies are incorporated there that would leave now that they are meddling in CEO compensation packages.

Daddy said:

---

Señor Chang said:

---

bmks270 said:

---

Where are they currently incorporated? I'm assuming Delaware or California.

---

Delaware. A Delaware judge recently ruled that Elon's compensation package was too high.

---

How is a judge in charge of a public company compensation?

---

In socialist America, all companies are controlled by the government.

What do so many corps have their state of incorporation in Delaware?

Oblivious to it honestly

Buck Turgidson said:

---

This is the kind of thing that could ruin Delawares status as the place where everybody incorporates. I wonder how many huge companies are incorporated there that would leave now that they are meddling in CEO compensation packages.

---

I was going to try to find a list of companies incorporated there. Turns out I found out that DE is (was) a preferred place to incoporate because of their laws and courts. A high percentage of companies registered there. I'm guessing this snafu will affect that.

rgag12 said:

---

Kinda seems petty

---

Explain please.

i dont think you will see any large scale exodus out of delware based on this.

even with this ruling, its still a better place to be incorporated than texas. legal disputes on corporations are decided by chancery courts with much less delay and no jury.

there are other very pro business incorporation states, like nevada.

Langley said:

---

What do so many corps have their state of incorporation in Delaware?

Oblivious to it honestly

---

i think it's cheaper to file articles of incorporation and there's some initial tax benefit to incorporate in delaware. it's been very well established for a long time, so companies that choose to incorporate typically and most often incorporate there. sounds like they want to play activist shareholder from their marxist judges benches though, so maybe companies will not incorporate there anymore.

over the last few decades, many companies incorporated in deleware went through corporate inversions to be based out of foreign tax shelters because our tax environment is budensome and uncompetitive with other countries, which hurts growth and investment in the USA... that's why companies like Apple are based in Ireland, etc.

rgag12 said:

---

Kinda seems petty

---

Ur so right.

Petty of him to get butthurt when the five year old compensation package the BOR of the company HE OWNS gets held up at the 11th hour when it will hurt him the most because a judge doesn't like his politics.

Sooooo petty of him to refuse to bend over and expose himself to politicians who want to vindictively **** him over.

Liberals' bread and butter is being petty.

Petty desire to control people who disagree with them.

Petty butthurt that someone makes more $ than they do.

Thin-skinned petty response to any criticism (the Obama standard).

nearly all the other billionaires are already socialist now that they've made all their money and it won't affect them. socialists have to attack any billionaire that isn't towing the line for global communist utopia along with them.

Langley said:

---

What do so many corps have their state of incorporation in Delaware?

Oblivious to it honestly

---

https://www.forbes.com/advisor/business/incorporating-in-delaware/

Quote:

---

What do 68% of Fortune 500 companies and 93% of all U.S.-based initial public offerings have in common? They're all registered in Delaware-and many at the same nondescript brick building on North Orange Street.
. . .
In 2020, Delaware saw an additional 250,000 new businesses register in the state, pushing the total number of businesses to over 1.6 million. Delaware has become internationally recognized as a corporate paradise and is "home" to such famous firms as Amazon, Google, Tesla, Walmart, American Express and Disney, to name just a few.

As the second smallest state (by size), and one of the least populous, it may seem odd that Delaware became the business mecca it is today, but since the early 1900s, the state has been incentivizing businesses to stay with lenient tax policies, reduced restrictions and simplified corporate laws. The key benefits to incorporating in Delaware are tax benefits, privacy, expediency, simplified structure and the corporation court.
. . .
The most famous reason Delaware has attracted the eye of corporations across the world is the lenient taxes imposed by the state. Corporations registered in Delaware that do not do business in the state do not pay corporate income tax. Delaware also does not have a sales tax, investment income taxes, inheritance taxes or personal property taxes. While companies do have to pay a franchise tax to register in Delaware, this can be pennies compared to the income tax other states would charge. Nationwide companies that do conduct business in Delaware can still skirt the in-state income tax by establishing subsidiary or shell companies that hold various intangible assets but do not directly run business operations.
. . .
As with registering a business in most states, companies must assign a registered agent who maintains a physical address to be the official address and to receive mail and collect paperwork. Unlike most states, however, in Delaware, the registered agent is the only name that must be disclosed in association with the company. Other officers and directors are not required to disclose their names, allowing an extra degree of anonymity.
. . .
[To BMX's point] Instead of a traditional trial system, corporate lawsuits in Delaware are resolved by the Court of Chancery, a court made up of judges who specialize in corporate law. Because of this, Delaware has well-developed and predictable legal precedents that may benefit corporations. While the average civil lawsuit may take a number of years to resolve, Delaware's use of judges instead of juries and prioritization of corporate-related cases means similar cases can be decided more quickly.
. . .
Major corporations can take advantage of Delaware's tax laws through a complex process of creating shell companies designed to offset taxes, but the complications and costs of these loopholes are likely out of reach for the average small business owner.
. . .
For more detailed information on the complexities of incorporating in Delaware, you can read the state's official "Facts and Myths" page.

---

Buck Turgidson said:

---

This is the kind of thing that could ruin Delawares status as the place where everybody incorporates. I wonder how many huge companies are incorporated there that would leave now that they are meddling in CEO compensation packages.

---

Good point. Delaware is one of those states that heavily rely on the revenue from the huge number of companies that are incorporated there. Been their "business model" for a long time.

Same as the phony Trump real estate development case and his financial statements for business loans How Trump did it is how every major developer does it, not only in NY but nationwide. If Judge Engeron rules that Trumphas to pay a massive fine and imposes a lifetime ban on his doing business there? Even though the likelihood it will be reversed on appeal, that's still time and money and lost opportunity costs while it is pending.

Other people and companies in that biz will move their operations elsewhere, likely Miami which is becoming the new financial hub replacing Wall Street. Hedgies are moving there too.

will25u said:

---

Would be interesting. HQ is already in TX. Also have Boca.

The public vote is unequivocally in favor of Texas!

Tesla will move immediately to hold a shareholder vote to transfer state of incorporation to Texas. https://t.co/ParwqQvS3d

— Elon Musk (@elonmusk) February 1, 2024

---

Texas on the forefront of electric car production. Maybe the next Detroit?

rgag12 said:

---

Kinda seems petty

---

What, Delaware's ruling against Elon's compensation package giving him zero dollars for 5 years of work? Yeah, very petty.