this post was submitted on 16 Jul 2024
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Elon Musk says SpaceX HQ officially moving to Texas, blames new CA trans student privacy law (www.cnbc.com)
submitted 4 months ago by vegeta@lemmy.world to c/technology@lemmy.world
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[–] SkunkWorkz@lemmy.world 14 points 4 months ago* (last edited 4 months ago)

Because he is not really moving. Moving the HQ doesn’t mean moving the entire company. He is just moving the address of where the corporation is registered and only move the finance and admin department to Austin. Texas has no corporate income tax.

Just like how he “moved” Tesla to Austin. and turned the office in California into a R&D hub. So basically every Tesla employee in California stayed in California.