Tax Avoidance Spotlight
Strategies Under Scrutiny
According to Gizmodo, a recent report by Americans for Tax Fairness (ATF) has put Tesla’s tax practices in the spotlight. The report says Elon Musk the CEO of Tesla didn’t pay any federal income taxes for five years even though it made money. Tesla avoided paying taxes by using tricks that let it use past losses to reduce its current taxes. The report suggests Tesla might be using tricks to pay less in taxes like moving money to places where taxes are low.
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Elon Musk Compensation and Tax Debates
While Tesla’s tax moves are getting attention the report also talks about how much money Tesla’s CEO Elon Musk makes. Elon Musk got a huge $2.5 billion paycheck mostly in stock options. Even though Tesla avoids paying taxes it gets help from the government in the form of subsidies, grants, and loans. This makes people wonder if Tesla is doing its fair share to help with public money. Elon Musk’s taxes have been talked about a lot too. He paid about $11 billion in taxes in 2022 after people criticized him for not paying taxes before. Elon Musk wants people to see him as a good taxpayer but Tesla still doesn’t pay taxes. This makes people question if Elon Musk is being honest about paying taxes. TeslaAs keeps dodging taxes the debate about companies paying their fair share of taxes is getting more attention.