Rivian loses out on $650 K tax rebate

Discussion in 'Rivian' started by Domenick, May 20, 2019.

  1. Rivian seems to be doing everything right, most would say, as it builds itself into a going concern. That doesn't mean it's perfect.

    Here, because it didn't live up to its contractual obligation to spend $10 million in plant improvements by the end of 2018, it missed out on a tax abatement. This ended up costing the company about $650,000 that it now has to pay in taxes.

    Not a huge deal in the scheme of things but just something to take note of. Here are a couple sources that covered this news.
    https://www.wglt.org/post/procurement-delays-cost-rivian-local-tax-breaks-2018
    https://www.pantagraph.com/news/local/govt-and-politics/equipment-delays-cost-rivian-k-tax-rebate/article_d0c9f974-d26b-56e9-a97b-545cd2031f9d.html
     

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