The potential step by the social-media giant follows a similar move by Elon Musk, who moved to reincorporate his companies in Texas and Nevada.

Meta Platforms Inc. is discussing reincorporating its business outside of Delaware, where the company has been legally incorporated since its founding in 2004, according to a person familiar with the conversations.

Facebook and Instagram parent company Meta Platforms is reportedly in talks to reincorporate in Texas. Like many large U.S. corporations, the social media giant is incorporated in Delaware, but it might soon be migrating south, according to a report in The Wall Street Journal.