Tesla Sued By Nevada Over Unpaid Taxes

[Stormysaga + 62]

More financial problems for Tesla. The state of Nevada, where Tesla has an important workforce, filed a lawsuit against the company for a supposed failure to pay $655,000 to the state’s Unemployment Compensation Fund. The carmaker didn’t pay enough for the first and second quarters of 2018 when Tesla had $68 million and $55 million in taxable wages, respectively.

A Tesla spokesman said the court filing in Las Vegas was the result of a clerical error and that the car maker processed the payment Tuesday. Tesla has been in discussions with states over new unemployment insurance contribution rates since it incorporated the employees of SolarCity, according to the spokesman.

[Rodent + 1,424]

31 minutes ago, Stormysaga said:

More financial problems for Tesla. The state of Nevada, where Tesla has an important workforce, filed a lawsuit against the company for a supposed failure to pay $655,000 to the state’s Unemployment Compensation Fund. The carmaker didn’t pay enough for the first and second quarters of 2018 when Tesla had $68 million and $55 million in taxable wages, respectively.

A Tesla spokesman said the court filing in Las Vegas was the result of a clerical error and that the car maker processed the payment Tuesday. Tesla has been in discussions with states over new unemployment insurance contribution rates since it incorporated the employees of SolarCity, according to the spokesman.

That's a pretty flippin big clerical error. 

[DA? + 301]

Another cheap dig at Tesla, surely they aren't worth the time as they are going bankrupt (as apparently they are due to do every six months). Or are they indeed beginning to force some areas of business to get a little worried about their future.

[Brian W + 78]

Story hits the media and BAM! Tax paid. Clerical error resolved.
 

[CMOP + 227]

I don't think Tesla is any trouble - they're about to receive a whole lot of money from clean energy government credits. We're talking hundreds of millions. Also, Model 3 production has been booming, not to mention they have access to $1.2 Billion in unused debt. 

Elon did mention they did not have to raise any more capital - but I if they wanted too - it shouldn't be a problem. 

[DA? + 301]

25 minutes ago, CMOP said:

I don't think Tesla is any trouble - they're about to receive a whole lot of money from clean energy government credits. We're talking hundreds of millions. Also, Model 3 production has been booming, not to mention they have access to $1.2 Billion in unused debt. 

Elon did mention they did not have to raise any more capital - but I if they wanted too - it shouldn't be a problem. 

With Elon talking about expansion at the Giga1(employing 20,000) site they may well be looking for an injection of capital to allow this to happen more rapidly. This maybe for expansion of the their solar/energy storage side but quite possibly for construction of the trucks and/or model Y. I'm all for Tesla borrowing more money (hardly burning it when their investments have done so much with so little) to expand at a faster rate. Demand for their products is extremely high, on the car side their sales are putting other manufactures to shame expanding rapidly whilst other manufactures are seeing large declines.

CMOP, nice to see someone saying something about Tesla which is factual here.

[CMOP + 227]

The awaited Tesla Truck and Model Y. What about the new roadster - seems to be on hold. Haven't heard anything about any of the new toys. 

I'm excited to see what China's Giga factory has in store for Tesla's overall masterplan. 

The Tesla plant's annual production capacity is intended to reach 500,000 vehicles over the course of few years.

Even though China's electric vehicle demand is strong, it is not enough to absorb 500,000 autos per year. The plant will be a second export hub to the asian markets. Cuts out the new tariffs that have been slapped to American products. 

[Vlad Kovalenko + 115]

Finally someone who appreciate Tesla. I was already feeling lonely here :-).

Tesla has accomplished a huge deal by ramping the Model 3 to the best selling American car with the highest rating that NHTSA gives, yet there is almost no media coverage. Also there are plenty of financial analysts who think that Tesla's profit potential and cash position are very healthy, and also almost not covered by the media. Just examples of bias. 

[Dan Warnick + 6,100]

8 hours ago, Vlad Kovalenko said:

Finally someone who appreciate Tesla. I was already feeling lonely here :-).

Tesla has accomplished a huge deal by ramping the Model 3 to the best selling American car with the highest rating that NHTSA gives, yet there is almost no media coverage. Also there are plenty of financial analysts who think that Tesla's profit potential and cash position are very healthy, and also almost not covered by the media. Just examples of bias. 

Actually a lot of people appreciate Tesla, we/they just want an end product that is as good as or better than current tech autos and we/they just aren't convinced of the financials; and the financials leave a lot of questions.  I love the looks of the cars and I think the trucks are awesome, at least what I have seen on the promotional videos.  Of course, videos and real world are not the same, so I am waiting to hear the reviews from the real world after 6-12 months of actual usage.  I remain hopeful though.  Elon may be a lot of things, some good - some bad, but I give him a great deal of credit for pushing the world into this sphere.  Battery technology has only recently become viable due to innovators like the Boeing 787 Dreamliner (my opinion) and it still needs work, but that work is happening now and it's about time!