Author Topic: Wall Street moving to Dallas? Nasdaq and NYSE consider relocating to Texas  (Read 476 times)

YenPounder

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The Office of Texas Governor Greg Abbott has been talking with Nasdaq and other stock exchanges about moving their data centers to Dallas because of a potential tax on financial transactions in New Jersey.

Right now, I think these talks are just at a threat by the exchanges to negotiate lower taxes in New Jersey, but, if it happened, this would be a big win for Texas, which is already a leader in the data center market.

eddieb

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Re: Wall Street moving to Dallas? Nasdaq and NYSE consider relocating to Texas
« Reply #1 on: November 13, 2020, 05:17:34 PM »
I've always thought it odd how different states have different tax rules.
We don't have this in the UK, but different local authorities do offer different incentives to entice business to them rather than to other areas.
We also have the government offering tax breaks/payments to companies to try to encourage them to set up in a particular area, perhaps where they want to encourage inward investment in industry to replace jobs that have been lost.
Post-Brexit, we may see more of this as the UK won't have its hands tied by EU competition/subsidy rules
« Last Edit: November 13, 2020, 06:30:08 PM by eddieb »
Disclaimer. Posts are just my thoughts,  not recommendations.  Do your own due diligence before trading

PipMeHappy

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Re: Wall Street moving to Dallas? Nasdaq and NYSE consider relocating to Texas
« Reply #2 on: November 13, 2020, 08:36:53 PM »
I've always thought it odd how different states have different tax rules.
We don't have this in the UK, but different local authorities do offer different incentives to entice business to them rather than to other areas.
We also have the government offering tax breaks/payments to companies to try to encourage them to set up in a particular area, perhaps where they want to encourage inward investment in industry to replace jobs that have been lost.
Post-Brexit, we may see more of this as the UK won't have its hands tied by EU competition/subsidy rules

Unless you live or do business in Jersey, a well-known tax haven...

https://www.gov.je/LifeEvents/MovingToJersey/LivingInJersey/Pages/MoneyTax.aspx