The tax loss for Kalifornia will be substantial.
While Musk may avoid personal taxes no matter where he lives because of annoying depreciation schedules and other mechanisms, having the gross receipts from Tesla land in Texas is a nice middle finger to the leftists here in Kalifornia.
I highly doubt Texas had to offer any additional incentives to lure him there.
Yup.
California loses in every way
While Musk may avoid personal taxes no matter where he lives because of annoying depreciation schedules and other mechanisms, having the gross receipts from Tesla land in Texas is a nice middle finger to the leftists here in California.
Actually Musk wins massively by moving to ,Texas (which he did last year) cause Texas has no state income tax, and Musk never took any salary from Tesla for the last 3 years or so, so he avoided the massive California income taxes.
However Musk is cashing in a huge chunk of Tesla shares in this quarter in Texas so will not pay any income taxes on that.
The people running that state don't have a clue on how economics actually works and they are going to be shocked when Kalifornia comes crashing down. Kaliforina is crashing now and they can't see it. They are in a death spiral, and keep doing all the wrong things. The People with money and brains will all leave the state. Some may be give no choice but to abandon family farms. They only thing that will be left is corruption and the people in extreme poverty.
The tax loss for Kalifornia will be substantial.
While Musk may avoid personal taxes no matter where he lives because of annoying depreciation schedules and other mechanisms, having the gross receipts from Tesla land in Texas is a nice middle finger to the leftists here in Kalifornia.
I highly doubt Texas had to offer any additional incentives to lure him there.
Meanwhile, Gruesome and his fellow felons in Sacramento are raking in the tax $’s on each gallon of gasoline bought in California.
Maybe that is the reason he is hated by Gruesome and his fascist thugs, aka democrats. Teslas don’t use much gasoline.
Here’s what’s on the tax side of the ledger on gasoline in Californicator You land:
The federal government charges an excise tax of 18.4 cents per gallon.
California’s excise taxes on gasoline come to 50.5 cents per gallon. That includes 12.7 cents per gallon from the controversial Senate Bill 1 that became law to improve infrastructure and develop transportation programs across the state.
Plus, there’s a state sales tax. It can vary by area but the Stillwater analysis estimated the sales tax averages 10.7 cents per gallon.
Every time gas prices go up in Californicator You land, Gov. Gruesome brings in another 11 cents for each $ increase.
Put together, Californians pay 79.6 cents per gallon in gas taxes.