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Elon Musk doubles down on his promise to ditch Delaware. SpaceX is headed for Texas incorporation

·1 min

SpaceX plans to relocate its business incorporation from Delaware to Texas, citing a recent ruling that could potentially impact Elon Musk’s assets. Delaware is a popular choice for business incorporation due to favorable legal and tax conditions. However, Musk expressed his dissatisfaction with the state and recommended incorporating in Nevada or Texas. Following the ruling, Musk seeks shareholder approval to incorporate Tesla in Texas. A poll conducted by Musk showed strong support for the move, with Texas winning the majority vote.