Tesla Paid Zero Federal Income Tax in 2024

Sunday, February 02, 2025

Tesla paid zero federal income tax in 2024 despite reporting $2.3 billion in US income, using legal loopholes to eliminate its tax liability. Over the past three years, Tesla has reported $10.8 billion in US income but paid only $48 million in federal taxes, bringing its effective tax rate to 0.4% -- far below the 21% corporate tax rate.

Posted by C0RI0LANUS at 03:24 PM | 17 COMMENTS | permalink | Comment on This Entry |

Alternate links: Google News | Twitter

Republicans are now pushing to cut the corporate tax rate further to 15%, which would allow massive companies like Tesla to pay even less while potentially raising taxes on lower-income Americans.

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

The Worst Person in the World is taking over the internal mechanisms of the USG thru DOGE.

#1 | Posted by C0RI0LANUS at 2025-02-02 10:44 AM | Reply | Newsworthy 1

"... using legal loopholes to eliminate its tax liability..."

Well, to be fair, they did pay bribes in the form of campaign financing to Officials to get those favorable loopholes written for them in the first place.

They must have paid like about a half cent on the thousand dollars.

But again, we need to thank the real Heroes for this New Fascist American Gov...

Thanks, Trumpers!

#2 | Posted by Corky at 2025-02-02 11:19 AM | Reply | Newsworthy 2

America, now a corrupted Oligarchy, similar to Russia.

#3 | Posted by e1g1 at 2025-02-02 04:19 PM | Reply | Newsworthy 1

What difference does it make what the corporate tax rate is if they use loopholes to get out of paying any taxes? Why are there corporate taxes at all?

#4 | Posted by Whatsleft at 2025-02-02 04:28 PM | Reply

If corporations are people shouldn't they pay the same rates and file the same forms as the rest of us?

#5 | Posted by TenMile at 2025-02-02 05:59 PM | Reply | Newsworthy 2

What difference does it make what the corporate tax rate is if they use loopholes to get out of paying any taxes?

The way I understand the tax code, its full of loop holes, carve outs, etc because congress wants to incentivize behaviors.

I recall some Republican being for a FlatTax, I dont recall Lumpers agreeing with it.

Do you want a FlatTax?

#6 | Posted by oneironaut at 2025-02-02 06:11 PM | Reply | Funny: 1

Canada should slap 100% tariff on swastikars.

e3.365dm.com

#7 | Posted by reinheitsgebot at 2025-02-02 06:42 PM | Reply | Newsworthy 1

No ----?

#8 | Posted by a_monson at 2025-02-02 07:22 PM | Reply

---- off ------. You're an idiot.

#9 | Posted by LegallyYourDead at 2025-02-03 12:13 AM | Reply | Newsworthy 1

Big money in very few hands cannot be trusted with all the power that that wealth creates. World wide, it almost always leads to some sort of fascism.

#10 | Posted by Hughmass at 2025-02-03 06:07 AM | Reply | Newsworthy 1

Tesla paid no income tax and now that unwanted immigrant is about to help himself to OUR taxes with his hands in the Treasury's payment system.

#11 | Posted by Yodagirl at 2025-02-03 10:08 AM | Reply | Newsworthy 1

..and now he's making financial/budget decisions for the nation?

I swear I must be living in a dream world. This guy - neither voted nor confirmed by Congress - doing this.

I said it before, this guy is bad news for the United States.

#12 | Posted by brass30 at 2025-02-03 10:33 AM | Reply | Newsworthy 2

"I swear I must be living in a dream world."

Or a nightmarish world. Like Blade Runner. Or Mad Max.

#13 | Posted by donnerboy at 2025-02-03 11:58 AM | Reply | Newsworthy 1

^___

Or Fahrenheit 451.

Or 1984.

#14 | Posted by donnerboy at 2025-02-03 12:00 PM | Reply | Newsworthy 1

Or Home Alone...

#15 | Posted by Yodagirl at 2025-02-03 02:02 PM | Reply

I've always believed that Tesla took advantage of politics to rip off the public. But apparently both parties were happy with it. The stock was sold short enormously early on but it kept going up. Both parties and other crooks in government were paid off.

#16 | Posted by Robson at 2025-02-03 02:03 PM | Reply

#16 | Posted by Robson

How does the government make a stock go up exactly?

Tesla went up because elon lied to investors and customer about their cars becoming profit-earning robotaxis.

Now tesla is going up because investors know that dictators reward the capitalists who support the dictator.

#17 | Posted by SpeakSoftly at 2025-02-03 02:07 PM | Reply