Overview

• Internal company documents reviewed by The New York Times indicate SpaceX has probably paid little to no federal income tax since its founding and revealed that it told investors it may never owe any.
• By late 2021 the company had accumulated more than $5 billion in losses, including roughly $3 billion that can be carried forward without expiration under rules revised in 2017.
• SpaceX’s private ownership has kept its detailed tax payments opaque, making this disclosure the first public window into its fiscal position.
• A July 19 interagency review concluded that SpaceX’s federal contracts are critical to national security launches and NASA missions, limiting options to alter current awards.
• Tax experts described the potential $5 billion in foregone federal revenue as substantial and said the findings intensify debates over corporate subsidies and oversight.