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Tesla and SpaceX CEO Elon Musk is planning to move from California to Texas, a move that would potentially save him from a huge claimed patrimony tax bill, CNBC reported.

Musk shepherd in July that Tesla was design its abutting US factory in Austin, where it will aftermath its Cybertruck, Model Y, Model 3, and Semi vehicles. The foursome received tens of millions of dollars in local acreage tax cleavage to build the bulb on 2,100 acres east of Austin's airport, over the objections of some local residents. The factory is expected to uncork delivering its indigenous vehicles in 2021. Musk's Desert Foursome once has operations in Austin, and SpaceX has a facility in Boca Chica, Texas.

Earlier this year, Musk tweeted that he was "selling substantially all ponderable possessions. Will own no house."

Musk battled with powers in California in recent months over pestiferous lockdown orders that transiently shuttered Tesla's Fremont plant. In May, Musk said he was hoopla to move the automaker out of state.

Frankly, this is the final straw. Tesla will now move its HQ and imminent programs to Texas/Nevada immediately. If we well-fixed retain Fremont mass-production affectibility at all, it will be dependen on how Tesla is weighed in the future. Tesla is the last carmaker left in CA.

-- Elon Musk (@elonmusk) May 9, 2020

In November, Tesla said employees at its Fremont bulb were "essential workers" and exonerated from California's new statewide COVID-19 health orders.

If Musk does gestation his permanent attest to Texas, he'd pay decidedly less in taxes, as CNBC notes. Musk stands to earn more than $50 billion in stock options, and would gotta pay patrimony taxes on the profits when he exercises them if he remained in California. Texas, however, has no claimed patrimony tax.

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