Meta Platforms is in discussions about transferring its incorporation from Delaware to Texas or different states, the Wall Avenue Journal reported Friday, citing individuals acquainted with the matter.
The social media large has talked to Texas officers concerning the potential adjustments, WSJ stated, including that the discussions predate President Donald Trump’s new administration.
The paperwork change wouldn’t relocate its company headquarters.
A Meta spokesperson stated that it doesn’t plan on shifting its company headquarters out of Menlo Park, Calif., however declined to touch upon reincorporation when contacted by Reuters.
Meta’s potential transfer to Texas echoes Elon Musk’s resolution to reincorporate Tesla and SpaceX to the Lone Star state.
Musk’s transfer to exit Delaware got here after a court docket within the state ordered him to surrender his $56 billion compensation bundle.
Texas is perceived by some companies as having a extra favorable authorized and regulatory setting, notably in areas equivalent to taxation and company governance, which could be enticing to corporations seeking to lower prices and streamline operations.
