Twin Vee PowerCats Reincorporates to Nevada, Eliminates Delaware Franchise Tax
Twin Vee PowerCats Co. completed its reincorporation from Delaware to Nevada after stockholder approval in November, eliminating its annual Delaware franchise tax. The move is expected to reduce operational costs, cut litigation distractions under Nevada Revised Statutes Chapter 78 and provide greater corporate flexibility for growth.
1. Stockholder Approval and Reincorporation Completed
Twin Vee PowerCats received majority stockholder approval in November and completed its reincorporation from Delaware to Nevada as of April 13, 2026.
2. Franchise Tax Elimination Frees Capital
By terminating its obligation to pay Delaware’s annual franchise tax, the company retains capital previously allocated to tax expenses, redirecting funds toward manufacturing, innovation and network expansion.
3. Reduced Litigation Risk and Enhanced Flexibility
Under Nevada Revised Statutes Chapter 78, Twin Vee anticipates fewer litigation risks and clearer corporate governance guidelines, reducing legal distractions for directors and management.
4. Seamless Transition Without Operational Disruption
The reincorporation does not affect the company’s daily operations, business model or facility locations, ensuring uninterrupted production of its catamaran sport boats while unlocking new cost and structural benefits.