And this would be _very_ good for Texas. Unlike Delaware, Texas charges the franchise tax as a percentage of taxable margin. This means Texas could impose almost 600M in tax on Meta if my napkin math is right. In Delaware the franchise tax would be capped at 250K IIRC. Given the amounts involved, I wonder what kind of concessions they're getting in return.
Texas will change this is they think they can catch lightning and get mass conversions from Delaware. Delaware played a very dangerous game by trying to have any limiting principle on the incentive structure for executives. I can't think of any other group who would fight harder against this. Play stupid games and get stupid prizes
