Snowflake moves executive office from California to Bozeman, Montana

No it isn't.

The company has always operated as a foreign corporation in California, which means it only pays corporate taxes on income generated in California. The company isn't moving its operations out of the state. Their San Mateo office will continue to pay any fees and taxes to the city and county. Only the CEO and CFO will work from the Montana office. Both were living in Montana prior to the headquarters move, therefore the company had a nexus in that state and paid corporate taxes for income booked in that state. Nothing changes in that regard. Snowflake cannot take advantage of Montana's lower corporate rate because they are not a domestic corporation. Again, they are incorporated in Delaware and operate as a foreign corporation in any state except Delaware.