REPORT: Tesla gets creative $28 million tax incentive in California
We've know for a while that Tesla wants to open a new plant in the U.S. to build the Model S and, while Albuquerque was in the running, California has always been more likely. The state certainly has made it a point to offer up tax incentives. The latest offer is to waive the sales tax on EV manufacturing equipment worth about $320 million. Instead of buying the tools directly, Tesla will have the California Alternative Energy and Advanced Transportation Financing Authority, a state entity that was formed almost 30 years ago and doesn't need to pay sales tax on equipment used to make advanced vehicles, hold the deeds for a short while and then give them to Tesla. This creative move will apparently save Tesla almost $29 million dollars, and makes us wish we could do something the next time we need to buy more blogging equipment.
[Source: San Francisco Gate, Reuters]
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