How to move your LLC or corporation out of New Jersey [step-by-step]

Attorney and CPA Chad D. Cummings examines Exxon Mobil’s decision to redomesticate from New Jersey to Texas and the opposition it faced from major proxy advisory firms in this presentation. After 144 years of incorporation in New Jersey, Exxon asked shareholders to approve a move to Texas. Institutional Shareholder Services and Glass Lewis recommended against it, citing investor protections, even as both firms were engaged in litigation against the Texas Attorney General over a disclosure statute. Shareholders ultimately approved the relocation, joining Tesla, Dell Technologies, and other major companies that have already made the same move. This presentation shows how redomestication allows business owners of any size to move a business out of New Jersey 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. The choice of domicile belongs to the owners of the company. Learn more: https://www.cummings.law/redomestication/move-business-out-of-new-jersey/