Tesla leaves CA for Texas

Tesla Model Y (2021) safety features (Courtesy of Tesla)

Mustang Staff

On Thursday October 7, Tesla CEO Elon Musk announced that Tesla would be moving its headquarters from Palo Alto, California, to Austin, Texas. Tesla joins other tech giants like Oracle and Hewlett Packard in moving to Texas, a state with no personal income tax or capital-gains tax. California is among the states with the highest personal income taxes in the US. People who earn over $1 million a year, pay 13.3% in personal income taxes. (WSJ)

Will this trend of big companies leaving CA impact the state economy?