Christopher Manes News Today

Fifth Estate Magazine, radical publishing since 1965

What first seemed like a case of billionaire wanderlust now looks more and more like shrewd anticipation of the big tax bill that’s coming Elon Musk’s way.

What first seemed like a case of billionaire wanderlust now looks more and more like shrewd anticipation of the big tax bill that’s coming Elon Musk’s way.

The Tesla CEO has already saved $500 million by moving his life and business out of the state with the most taxes on the wealthy, Bloomberg estimates.

The billionaire’s sale of multiple homes was a crucial step in fleeing the high-tax state.

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Gay Agenda • March 12, 2021 Mar 12, 2021 | The Gay Agenda Have an event coming up? Email your information to Managing Editor Tammye Nash at nash@dallasvoice.com or Senior Staff Writer David Taffet at taffet@dallasvoice.com by Wednesday at 5 p.m. for that week’s issue. The Gay Agenda is now color-coded: Red for community events; blue for arts and entertainment; purple for sports; green for nightlife and orange for civic events and holidays. • Every Monday: THRIVE Resource Center’s THRI...

Elon 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 unl...