Saturday, December 8, 2012

ResMed Leaving California?

Via reader and friend Simon M.:
ResMed Inc., one of San Diego’s largest medical device companies, is evaluating whether it should move its headquarters outside of California.

ResMed CEO Peter C. Farrell cited California’s tax increases, strengthening union presence, strict regulations and the Democratic majority in the state Legislature as reasons the company is looking elsewhere. The company posted revenue of more than $1 billion last year.
Read the whole thing.

As Simon says, “Bet we see more of this...”

1 comment:

  1. I think almost every company these days incorporates elsewhere. Delaware, Nevada etc. for both better legal protections and for a better tax position. Though CA will still charge them additional fees and run them through regulatory hoops. And, of course, that latest proposition that would increase the tax liability of corporations that operate in multiple states. Sigh.