new Delhi. Who does not want to save tax, whether he is a middle class man or one of the world’s rich people. What matters is the method of saving tax. If you talk about Elon Musk, the second richest person in the world, then he can shift from Nevada to California or shift to Texas to save tax. The special thing is that if there is a shift in either of these two cities, then their tax will be saved so much that they can buy Domino’s world wide business from those rupees even after that the rupee will not end. Let us also tell you what kind of planning Elon Musk is engaged in.
Why does Musk want to shift to Texas?
In fact, Elon Musk has become the second richest person in the world, in which the tax burden on him has increased considerably. To reduce this burden, he is planning to go to Texas. State income tax is not required in Texas. Which will help them save billions of dollars of tax. By the way, he gave this indication in the month of May itself. They said they could sell all California properties and shift to Nevada or Texas. He has also prepared a list of all his properties.
How much tax will Musk save compared to California
California is the most taxed state. While there is no rule of state income tax in Texas. Capital gains tax in California is 13.3%, plus 20% of federal capital gains tax. Musk will be relieved of both by a shift to Texas. This would save Musk only $ 18 billion if he did not pay capital gains tax.
Musino can buy dominoes
Now you must have understood why Musk is preparing to go to Texas. So that they can save $ 18 billion. With this amount, you can buy Domino’s worldwide business. Even after that they will have a lot of money left. Domino’s market cap is $ 15 billion. We are not saying exactly that Mast Dominoes is about to buy, but you can understand that Musk has figured out a unique way to save tax.