FACT BRIEFDid Twitter move to Nevada?
YES
On March 15, 2023, Twitter, Inc. merged into the company "X Corp.". As a result of the merger, Twitter is now incorporated in Nevada; previously, it was incorporated in Delaware.
Incorporation is the process of registering a business with a state so that the business becomes a separate legal entity. The benefits of incorporating a business entity in Nevada include the state’s lack of a corporate or personal income tax, no tax on corporate shares, and additional discretion and protection for the company’s management and officers.
Elon Musk, the owner of the platform and X Corp., has previously tweeted that “Buying Twitter is an accelerant to creating X, the everything app.” Musk has cited the Chinese social media platform WeChat, whose services include messaging, video chatting, photo sharing, ride services, food delivery, banking, and shopping, as a model.
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Sources
Google Drive SilverFlume Nevada's Business Portal: X Corp. - Twitter, Inc. Merger
US District Court Northern District of California San Francisco Division Defendant Twitter, Inc.'s Corporate Disclosure Statement and Certification of Interested Entities or Persons
Investopedia Incorporation: Definition, How It Works, and Advantages
Nevada Secretary of State The Nevada Advantage
Elon Musk Buying Twitter is an accelerant to creating X, the everything app
Business Insider Elon Musk has reportedly merged Twitter with X Corp. Here's everything we know about his ideas for an 'everything app.'
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