Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Elon Musk moves to Texas

ktvu.com

Post reply on HN
Print view View original

201–210 of 1001 posts

Re: Elon Musk moves to Texas

#201

Post by LinuxBender »

GavinMcG wrote: post #192
LinuxBender wrote: post #170

Earlier quoted context omitted.

[Edit] Adding link to reciprocal agreements and filing in multiple states in thread below. His businesses in California would have to move to Texas to realize the benefits.

No, state personal income taxes are based on personal income you earn in the state . If you work in multiple states, you file in multiple states.

That depends on reciprocal tax agreements. [1] He will have to file in both states, but what he pays will depend on several factors. He will likely get tax credits in California, but I am not a tax attorney or a CPA. Elon could probably give some indication on how much he is saving if he is saving anything at all.

[1] - https://www.optimataxrelief.com/live-work-pay-taxes/

Re: Elon Musk moves to Texas

#202

Post by lotsofpulp »

herodoturtle wrote: post #194
lotsofpulp wrote: post #188

Earlier quoted context omitted.

I've met quite a few people who moved out of South Africa to the US and UK, and the reason I was always given was something to do with the common advice being to not stop your car at night or at remote intersections lest you get carjacked or worse.

Yeah that's good advice if you're in a dangerous part of town, but it does on occasion also happen in what are considered the safer suburbs. Crime is South Africa's biggest pusher-outer-of-citizens. But those that have been to Cape Town and its surrounds understand why so many still choose to live there. It's a tough compromise!

Of course, South Africa (and the surrounding countries, and quite frankly much of Africa below the Sahara that I have visited) is gorgeous and unparalleled in almost all aspects.

If it wasn't for the lack of a high trust society, I would actually look into moving to Cape Town myself.

Re: Elon Musk moves to Texas

#203

Post by bsamuels »

bagacrap wrote: post #189
boringg wrote: post #171

Earlier quoted context omitted.

California still has every viewpoint that is imaginable though there does seem to be less space for far right. What's making everyone salty about Elon leaving is there was considerable amount of people who helped him build up in the state (i.e. state benefits, staff who worked incredibly hard for many years, consumers who bought his cars [drive in the bay area]) and he's peacing out, with a slap in the face to everyo…

Is this a successful way to dodge taxes? If so, that loophole should be fixed. I left California 4 years ago and yet somehow still pay taxes to the state. If you're saying that anyone who was professionally successful in California has no right to ever leave the state, that seems like a tough sell.

I don't know the specifics, but I believe the parent comment is alluding to business specific taxes, not the capital gains tax you probably pay as a no-longer-california-resident.

Re: Elon Musk moves to Texas

#204

Post by _0w8t »

S_A_P wrote: post #158

Pretty interesting to see this move makes people so salty. There does seem to be a trend of people fleeing California, I dont know enough about the situation out there to comment on whether or not its valid. I suspect something must be going on for several high profile folks moving out. And before you bash Texas, its not perfect. But its pretty diverse, and it seems that folks with opposing viewpoints can still coexi…

Few reasons to leave California - https://scottlocklin.wordpress.com/2020/09/12/leaving-the-ba...

Re: Elon Musk moves to Texas

#205

Post by [deleted] »

herodoturtle wrote: post #182
S_A_P wrote: post #158

Pretty interesting to see this move makes people so salty. There does seem to be a trend of people fleeing California, I dont know enough about the situation out there to comment on whether or not its valid. I suspect something must be going on for several high profile folks moving out. And before you bash Texas, its not perfect. But its pretty diverse, and it seems that folks with opposing viewpoints can still coexi…

> And before you bash Texas, its not perfect. But its pretty diverse, and it seems that folks with opposing viewpoints can still coexist here. I like that... Interesting point. It reminded me that in his past he has also left South Africa, and yet South Africa could also be described pretty accurately as "its not perfect. But its pretty diverse, and it seems that folks with opposing viewpoints can still coexist here.…

[deleted]

Re: Elon Musk moves to Texas

#206

Post by itsoktocry »

dimitrios1 wrote: post #52
cma wrote: post #35

Earlier quoted context omitted.

How much in subsidies did he get from California?

Nothing in comparison to what states offered. Giving businesses subsidies to attract more employers isn't anything unique to California.

>Nothing in comparison to what states offered.

For the factories, maybe.

What about the rebate to car purchasers for many years, making California Tesla's biggest market? That is substantial.

Re: Elon Musk moves to Texas

#207

Post by bagacrap »

giarc wrote: post #187
pyrrhotech wrote: post #181

Moving out of CA was the best decision I ever made. Now I can drive on the roads without traffic, pay 0 state income tax and live my life peacefully without being surrounded by bums and social justice warriors. Downvote away SJWs!

>pay 0 state income tax Do you see this as a good thing? How does your state fund itself?

probably sales and property taxes

FWIW, broadly speaking, I'd rather see wealth taxes and estate taxes than income taxes. Income taxes disincentivize work, whereas wealth taxes penalize idleness.

Re: Elon Musk moves to Texas

#208

Post by Darmody »

boringg wrote: post #171
S_A_P wrote: post #158

Pretty interesting to see this move makes people so salty. There does seem to be a trend of people fleeing California, I dont know enough about the situation out there to comment on whether or not its valid. I suspect something must be going on for several high profile folks moving out. And before you bash Texas, its not perfect. But its pretty diverse, and it seems that folks with opposing viewpoints can still coexi…

California still has every viewpoint that is imaginable though there does seem to be less space for far right. What's making everyone salty about Elon leaving is there was considerable amount of people who helped him build up in the state (i.e. state benefits, staff who worked incredibly hard for many years, consumers who bought his cars [drive in the bay area]) and he's peacing out, with a slap in the face to everyo…

Far-right aka everybody who's not a democrat.

Re: Elon Musk moves to Texas

#209

Post by pdonis »

hobofan wrote: post #163
jowday wrote: post #14

Isn't the actual listed location of residence more a formality for a billionaire like Musk? I presume he'll still rent residences in LA and the Bay Area considering he'll be back and forth for business related to Tesla and SpaceX. This seems like he's renting a place in Texas and making a big deal out of 'moving there' to make a point about California's regulatory environment.

Are US tax agencies that easily fooled? From what I know in Europe, you generally have to pay tax in the place where you reside more than 50% of the year (additional taxes may apply for secondary residences, but that's very regional). It's fairly common for a tax agency of one country to demand proof that you actually moved and physically reside in another country so that they don't double-tax you, so you better have…

> From what I know in Europe, you generally have to pay tax in the place where you reside more than 50% of the year

What's the definition of "reside"? In the US, it's generally not just a matter of where you sleep at night or where you keep stuff; the legal definition of "residence" is a matter of intent, where you intend your permanent place of residence to be. Of course there needs to be objective evidence of your intent: you can't just say "I live in Texas" if you own a home in California which you aren't renting to anyone else, but don't own any real estate in Texas. But it looks like Musk is selling all his California property. Even if he doesn't buy a home in Texas, if he has a permanent rental of one there, but only rents places in California temporarily when he travels there for business, legally his residence would indeed be in Texas.

Re: Elon Musk moves to Texas

#210

Post by bagacrap »

elindbe2 wrote: post #107
11thEarlOfMar wrote: post #96

I was on the edge of the same decision. This move by the new district attorney in LA is so far beyond the pale that if it's not rescinded soon, I am gone too: "NEW: L.A. County DA George Gascon has issued a directive to prosecutors that the following misdemeanors will be declined for prosecution, with exemptions. -Trespassing -Disturbing the peace -Driving without license -Prostitution -Resisting arrest" This is an a…

So do people not need to renew their driver's license then? Or is there a fine? What if you don't pay the fine?

I'm more worried about those who have lost their license, e.g. due to multiple DWIs.
Post reply on HN