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Elon Musk Joins Other Billionaires Leaving California for Tax Advantages
Posted
December 11, 2020
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5,484
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December 11, 2020
5,484
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6:20Now PlayingElon Musk, who says he has relocated to Texas from California, is just the latest billionaire to announce a move that could deliver big tax savings.
The mechanics of how the rich can enjoy those savings, however, are complicated and involve jumping through a few more hoops than simply announcing that they have moved from Los Angeles to Dallas, or New York to Miami. Spending a certain number of days out of the state, or changing documents like voter registration and drivers’ licenses, are unlikely to be enough.
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