Elon Musk can change registration to save taxes


Elon Musk plans to relocate from California to Texas, friends and partners of the entrepreneur told CNBC on condition of anonymity. According to them, the head of Tesla and Spacex so wants to save on taxes.

The fact is that California, where Musk’s companies are registered, has the highest taxes in the United States, while Texas, for example, has no income tax at all.

By the way, the outflow of IT companies from California, with its strict rules and high rates, began immediately after the outbreak of the pandemic – thanks to the move, they were able to reduce costs significantly and prepare for efficient remote work.

Elon Musk’s desire to leave California was caused by a conflict with state authorities over coronavirus restrictions. In May, after the California authorities quarantined his businesses, the entrepreneur said that Plans to build All of their new properties are not in California, but in Texas and Nevada. CNBC estimates that Musk could save billions of dollars by moving to Texas

Earlier, the founder of SpaceX said when humanity will take its first step on Mars:

Elon Musk said the man will take the first step on Mars in 6 years

Elon Musk received the Axel Springer Award, which recognizes the authors of innovative ideas that affect the development of humanity.

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