{"id":198496,"date":"2026-03-10T17:05:12","date_gmt":"2026-03-10T17:05:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/198496\/"},"modified":"2026-03-10T17:05:12","modified_gmt":"2026-03-10T17:05:12","slug":"exxon-may-move-legal-headquarters-from-new-jersey-to-texas","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/198496\/","title":{"rendered":"Exxon may move legal headquarters from New Jersey to Texas"},"content":{"rendered":"<p>Oil and <a href=\"https:\/\/www.statesman.com\/business\/economy\/article\/texas-gas-prices-iran-21967036.php\" data-link=\"native\" class=\"\" rel=\"nofollow noopener\" target=\"_blank\">gas<\/a> giant ExxonMobil is considering registering in the Lone Star State after 144 years in New Jersey.<\/p>\n<p>The company announced the news Tuesday in a proxy filing. Its headquarters are already in Spring, Texas, so the shift would put its legal and physical base in the same state. Exxon Mobil Chairman and Chief Executive Officer Darren Woods also explained Texas&#8217; appeal to businesses in Tuesday\u2019s\u00a0<a href=\"https:\/\/investor.exxonmobil.com\/company-information\/press-releases\/detail\/1202\/exxonmobil-board-unanimously-recommends-redomiciling-the\" data-link=\"native\" class=\"\" rel=\"nofollow noopener\" target=\"_blank\">news release<\/a>.<\/p>\n<p>\u201cOver the past several years, Texas has made a noticeable effort to embrace the business community. In doing so, it has created a policy and regulatory environment that can allow the company to maximize shareholder value,\u201d Woods said. \u201cAligning our legal home with our operating home, in a state that understands our business and has a stake in the company\u2019s success, is important.\u201d<\/p>\n<p>This sentiment was echoed in the filing.<\/p>\n<p>\u201cThe Board believes Texas legislators, judges and juries who might make decisions that impact Exxon Mobil are generally more familiar with our business and operations,\u201d ExxonMobil stated.<\/p>\n<p>Investors will vote on the transfer in May during ExxonMobil\u2019s annual shareholder meeting.<\/p>\n<p>Another motivating factor may be the legal battles the company has faced in recent years. In 2022, the State of New Jersey sued Exxon Mobil and several other major oil companies for allegedly misleading the public about climate change and the environmental impacts of fossil fuels; the case was later dismissed. Meanwhile, in Texas, a\u00a0<a href=\"https:\/\/capitol.texas.gov\/tlodocs\/89R\/analysis\/html\/SB01057I.htm\" data-link=\"native\" class=\"\" rel=\"nofollow noopener\" target=\"_blank\">2025 law<\/a> now requires investors to own at least $1 million in stock before filing a shareholder proposal\u00a0\u2014 adding to the state\u2019s desirability for large corporations.<\/p>\n<p>Along with business-friendly laws, the Lone Star State also has one of the most business-friendly tax systems in the country\u00a0\u2014 with no personal income tax and no traditional corporate income tax. It also offers lower operating costs, a large workforce and economic growth, an expansive industry ecosystem and government incentives. These factors increase profitability and reduce regulatory and legal risks.<\/p>\n<p>Here is a handful of companies to move headquarters to Texas over the past few years:<\/p>\n","protected":false},"excerpt":{"rendered":"Oil and gas giant ExxonMobil is considering registering in the Lone Star State after 144 years in New&hellip;\n","protected":false},"author":2,"featured_media":198497,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[42900,14106,27,29,28],"class_list":["post-198496","post","type-post","status-publish","format-standard","has-post-thumbnail","category-texas","tag-company-news","tag-gasoline","tag-texas","tag-texas-headlines","tag-texas-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/198496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=198496"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/198496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/198497"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=198496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=198496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=198496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}