If the tax code says that the location of your right big toe decides where your entire body pays tax, regardless of where other parts of that body is located (immediately adjacent to the toe or scattered across the world), then yes, where the big toe is, that's where you pay tax.

The analogy is more like that the location of you navel decides where you pay tax, and you discover that if you shift your weight around a little, your navel ends op on the other side of the line.

The problem is that the tax code fundamentally assumes that businesses are reasonably local and contained operations (analogous to a single body) and only deals with sprawling multinationals through monkey patching in an environment where policies appearing to benefit big businesses isn't exactly a big vote-grabber.

I think the proper analogy would be cutting off your head and mailing it to the other state. But that would be a silly analogy wouldn't it?

An analogy that might work is to move over the county line to reduce property taxes but continue to travel back into the original county to work or shop. Even then, you would still be paying some form of taxes to the original county; much like a company moving countries is not going to eliminate ALL tax liabilities.

By the way, if it is deemed legal then it is not tax evasion.