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The headline is a little misleading. Snowflake is actually going full remote, Coinbase style and saying that they don't have any HQ. But since SEC forces them t
by dmode 5y ago
The headline is a little misleading. Snowflake is actually going full remote, Coinbase style and saying that they don't have any HQ. But since SEC forces them to have an HQ, they have Bozeman as one, since CEO lives there. I am guessing because he doesn't want to mix with the plebs ?
- hodgesrm 5y agoIt's probably way better for taxes. If you have to pick why not pick something cheap?
- athms 5y agoNothing changes regarding corporate taxes because the company is incorporated in Delaware.
- hodgesrm 5y agoThat's unfortunately incorrect. There are varying levels of state and local taxes. Our company pays a tax to the city in which our HQ is located, for example.
- athms 5y ago>That's unfortunately incorrect. No it isn't. The company has always operated as a foreign corporation in California, which means it only pays corporate taxes on income generated in California. The company isn't moving its operations out of the state. Their San Mateo office will continue to pay any fees and taxes to the city and county. Only the CEO and CFO will work from the Montana office. Both were living in Montana prior to the headquarters move, therefore the company had a nexus in that state and paid corporate taxes for income booked in that state. Nothing changes in that regard. Snowflake cannot take advantage of Montana's lower corporate rate because they are not a domestic corporation. Again, they are incorporated in Delaware and operate as a foreign corporation in any state except Delaware.
- GhettoChild 5y agoIf their goal was to avoid taxes they should have moved to Wyoming instead.
- Fezzik 5y agoBozeman would be an odd place for avoiding plebs - 30+% of the population is partying college kids and ski bums/outdoor vagrants. There are also the multi-million dollar homes, of course. It really is lovely there though.