Elon Musk said he would pay a $ 11 billion tax this year – News2IN
Business Uncategorized

Elon Musk said he would pay a $ 11 billion tax this year

Elon Musk said he would pay a $ 11 billion tax this year
Written by news2in

Elon Musk, the richest person in the world and Chief Executive Officer Tesla Inc., said on Twitter that he would pay taxes more than $ 11 billion this year, the number that could form a payment record to US internal income services.
Billionaires can face a tax bill of more than $ 10 billion for 2021 if he runs all his choices because of the expiration next year, the calculation last week by Bloomberg News shows.
The incredible Levy came after Musk carried out nearly 15 million choices and sold millions of shares to cover taxes related to the transaction.
It followed the Twitter poll last month when he asked followers whether he had to sell 10% of his shares in an electric car, whose shares have skyrocketed more than 2,300% over the past five years.
A report by Propublica in June said Musk paid a little income tax relative to his outsize wealth.
But he pushed back the characterization, said he did not draw a salary from SpaceX or Tesla, and pay a 53% effective tax rate in the stock option he did.
He added that he expects the tax rate to increase next year.
Musk earlier this month said he would pay more tax than Americans in history this year.
It responded to another tweet from Senator Massachusetts Elizabeth Warren, who uses the magazine of the time of the “person of the year” “award to call him without tax.

About the author

news2in