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Message
re: Elon Musk has sold roughly $5 billion in Tesla stock this week, and probably isn’t done
Posted on 11/10/21 at 11:03 pm to Bobby OG Johnson
Posted on 11/10/21 at 11:03 pm to Bobby OG Johnson
quote:
Tesla CEO Elon Musk faces a tax bill of more than $15 billion in the coming months on stock options, making a sale of his Tesla stock this year likely regardless of the Twitter vote.
quote:
Since the options are taxed as an employee benefit or compensation, they will be taxed at top ordinary-income levels, or 37% plus the 3.8% net investment tax. He will also have to pay the 13.3% top tax rate in California since the options were granted and mostly earned while he was a California tax resident.
Combined, the state and federal tax rate will be 54.1%. So the total tax bill on his options, at the current price, would be $15 billion.
I'm sure the government will spend this $15 billion better than Musk... he's only revolutionizing technology while the government is giving handouts like candy to people for not working.
1
Posted on 11/10/21 at 11:32 pm to BurningHeart
quote:
Combined, the state and federal tax rate will be 54.1%. So the total tax bill on his options, at the current price, would be $15 billion.
"But the rich don't pay taxes"
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