Elon Musk already faces a federal tax bill approaching $2.7 billion on exercising Tesla Inc. inventory choices. It might have been larger if the corporate’s share value hadn’t fallen after he tweeted about selling stock.
The inventory fluctuations have monetary penalties for the U.S. authorities, Mr. Musk and Tesla. When the share value goes down, it not solely reduces how a lot tax the Tesla chief government owes the U.S. authorities within the brief time period, it additionally lowers his whole potential tax funds linked to these shares if he sells them sooner or later. Any such later gross sales additionally will not be taxed by California as a result of Mr. Musk moved his residence to Texas last year.
Elon Musk’s Tax Bill on Stock Options Fell Along With Tesla’s Share Price Source link Elon Musk’s Tax Bill on Stock Options Fell Along With Tesla’s Share Price