Companies are relocating from California to Florida, Texas, Wyoming, and Tennessee as owners reassess tax exposure, regulatory uncertainty, and the long-term costs of maintaining a California business domicile.

DALLAS, Oct. 27, 2026 /PRNewswire/ -- Cummings & Cummings Law, a multistate law firm specializing in interstate business redomestication, reports a 12-fold increase in California-origin companies relocating to Florida, Texas, Wyoming, and Tennessee through its practice as California approaches its November 3 vote on Proposition 40, the proposed billionaire wealth tax.

The increase reflects the firm's own redomestication activity, rather than a statewide count of California business departures.