Tesla suing local authorities over COVID-19 recovery plan
“The unelected & ignorant ‘Interim Health Officer’ of Alamdea is acting contrary to the Governor, the President, our Constitutional freedoms & just plain common sense!” Musk tweeted Saturday.
Despite California’s stringent stay-at-home policy, Monday, locals report the Fremont California Tesla parking lot is full.
Musk’s frustration isn’t only COVID-19 related, it’s also likely heavily influenced by California’s high income tax rates on its highest earners.
California imposes an income tax rates of 13.3% on its highest earners. So if Musk exercised the options while he was a California resident, he would pay $104 million in taxes. If he waits until he moves to Texas or Nevada, he would owe no state income taxes on the sale — effectively saving $104 million, CNBC reports.
The lawsuit is here: https://wholemars.com/alameda-lawsuit.pdf