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This is mostly symbolic so far as Tesla doesn’t even have the factory ready. Elon has options to exercise in Q4 before they expire, which will realize a substa
by pdq 5y ago
This is mostly symbolic so far as Tesla doesn’t even have the factory ready.
Elon has options to exercise in Q4 before they expire, which will realize a substantial capital gain.
By moving both personally and his business to Texas, he is likely avoiding California state income tax and capital gains, since Texas has neither.
I’d say that’s bad faith, given how much California has subsidized his companies.
- ricardobeat 5y agoHow much has California subsidized his companies?
- panopticon 5y agoI think California uses an "allocation ratio" to determine how much he will owe when he exercises those options [1], so he's not getting away tax-free. 1: https://www.ftb.ca.gov/forms/misc/1004.html https://www.ftb.ca.gov/forms/misc/1004.html