Meta Platforms is in discussions about transferring its incorporation from Delaware to Texas or different states, the Wall Road Journal reported Friday, citing folks accustomed to the matter.
The social media large has talked to Texas officers in regards to the potential modifications, WSJ mentioned, including that the discussions predate President Donald Trump’s new administration.
The paperwork change wouldn’t relocate its company headquarters.
Meta didn’t instantly reply to a Reuters request for remark however an organization spokeperson informed WSJ that there are not any plans to maneuver its company headquarters from California.
Meta’s doable transfer to Texas echoes Elon Musk’s choice 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 package deal.
Texas is perceived by some companies as having a extra favorable authorized and regulatory atmosphere, notably in areas reminiscent of taxation and company governance, which could be engaging to corporations seeking to reduce prices and streamline operations.