Since the foundation in 2002, SpaceX Ilona Mask has become the leader in commercial space launches and an important contractor for the US government. The recent investigation of The New York Times showed that the company’s success could partially rely on federal tax evasion.
The internal documents of SpaceX show that the company used the so -called transferred tax losses (NOL), which allow you to write off past losses from future income. By the end of 2021, SpaceX had accumulated about $ 5.4 billion tax losses, which allowed to avoid taxes for the same amount of future income. Trump in 2017 removed their validity period, which gives SpaceX the opportunity to use almost $ 3 billion without time limiting.
At the same time, SpaceX actively receives federal financing. According to Washington Post, over the past 20 years, Musk and its companies have received at least $ 38 billion in the form of contracts, loans, subsidies and tax benefits. Another 52 contracts with seven state agencies can bring up to $ 11.8 billion in the coming years. In 2020, almost 84% of SpaceX income accounted for federal contracts, and in 2021-76%.
Experts believe that avoiding taxes for more than $ 5 billion for a company with such dependence on the government is a very “noticeable” phenomenon. SpaceX pays taxes to foreign and regular authorities, but, judging by the documents, he almost does not pay federal US taxes.
