Nevada Approves $1.3 Billion Tax Breaks for Tesla Factory
This article is for subscribers only.
Nevada Governor Brian Sandoval signed tax breaks worth as much as $1.3 billion and a measure allowing Tesla Motors Inc. to sell directly to state residents, the final steps to bring the world’s largest lithium-ion battery factory to Reno.
Sandoval signed the bills minutes after the 42-member Assembly and 21-member Senate unanimously agreed to write off Tesla’s sales taxes for 20 years and property and business taxes for 10 years. The tax breaks are the centerpiece of a deal that Sandoval and Tesla Chief Executive Elon Musk unveiled Sept. 4 to land the first battery “Gigafactory” to supply 500,000 cars.