How business owners are transferring their companies out of California [step-by-step]

Attorney and and CPA Chad D. Cummings examines Texas’s historic overtaking of California in Fortune 500 headquarters in this presentation. For the first time, Texas leads California 57 to 56 on the 2026 Fortune 500 list, a reversal driven by companies including ExxonMobil, Chevron, Samsung Electronics America, SpaceX, and X relocating their headquarters or legal incorporation to Texas. Texas corporations now generate more revenue as well, and the gap is expected to widen as California’s high-tax environment and proposed wealth tax continue to drive capital and talent out of the state. California ranks 48th on the Tax Foundation’s 2026 State Tax Competitiveness Index with a 13.3 percent top individual income tax rate, while Texas ranks 7th and imposes no individual income tax. This presentation shows how redomestication allows business owners to transfer their company’s legal domicile out of California without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business still domiciled in California or another high-tax state, the direction of headquarters migration is clear. Learn more: https://www.cummings.law/redomestication/move-business-out-of-california/