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Story summary
- Elon Musk announced he will pay over $11 bn (£8.3 bn) in taxes this year.
- Tax expert Robert Willens said the bill likely stems from Musk exercising valuable Tesla stock options.
- Musk has sold about $14 bn of Tesla shares to cover the liability.
- Tesla filed with the Securities and Exchange Commission (SEC) to move its headquarters from California to Texas, a state with no income tax.
