Subscribe Now

travelers today

Home » Travel Intel

California Prepares Taxation Policies For Space Rocket Industry By Miles Traveled

Travelers Today       By    Florette A.

Updated: May 08, 2017 06:20 AM EDT

Text Size: A A A

Even before it has fully commercialized to be availed by the public, California has one source of taxes and that is the space rockets industry. California is now drafting policies and laying down plans for the taxation of the industry that caters to space travelers.

According to Tech Times, the plan is simple and is similar to the taxation of all commercial vehicles in the country except that their taxes will be based on the distance and the frequency of the space travel. Elon Musk's SpaceX and United Launch Alliance, both based in California are supportive of the taxation scheme because it will solidify their tax status.

The State Franchise Tax Board has already released a draft of the proposed tax plan to only base the tax computation on mileage and departure. As provided for in the draft, the mileage factor will be determined by computing the miles traveled of each launch. The departure factor will be computed using the number of launches based on the contract as the numerator and the company's total number of launches everywhere. The Franchise Tax Board has invited the public to comment or suggest on the input until the middle of June this year.

Travel Pulse reported that this is good news to the rockets companies because the more mileage incurred, the less will be the tax. Although commercial space travels like the one on the business of Richard Branson's the Virgin Galactic has not yet fully operated, California is already preparing on how the rocket industry can become a viable tax source.

The space rocket industry is seen to be on full blast perhaps decades from now but eventually, it will happen. As what the great physicist Stephen Hawking has predicted, humans from Earth will eventually need to evacuate to other planets to avoid extinction.

See Now: The U.S. had the highest number of Most Wanted properties, dominating the Hotels.com Loved By Guests Awards 2018

Tags
space travel, SpaceX, United Launch Alliance, rocket industry taxation
© 2023 Traverlers Today, All rights reserved. Do not reproduce without permission.
Join Our Conversation

Subscribe to our newsletter

Receive the latest travel news, reviews, and more..

Most Popular

6 Tips For Traveling With Young Children

6 Tips For Traveling With Young Children

Planning for a trip takes some time, even if it's just you g

How Traveling Can Make You Happy

How Traveling Can Make You Happy

If you have never traveled before but are thinking of doing so then

Scottish Islands: The Best Places to Reside!

Scottish Islands: The Best Places to Reside!

So there are a few islands that can be found off the Sco

How to Plan a Multi-Destination Honeymoon During COVID

How to Plan a Multi-Destination Honeymoon During COVID

You need to know how to plan appropriately and

7 Tips for Amazing Campus Visits

7 Tips for Amazing Campus Visits

A campus visit's significance could not be overstated. After all, fo

4 Tips For Curating The Perfect Gallery Wall

4 Tips For Curating The Perfect Gallery Wall

Having a gallery wall brings plenty of benefits to your

Water Travel Options That Don’t Involve a Cruise

Water Travel Options That Don’t Involve a Cruise

There is something equally relaxing and invigorati

Photo by Erik Odiin on Unsplash

Things That Will Help Cost-Conscious Vacationers Save Money

There are several ways you can significan

Photo by Mikhail Nilov from Pexels

How to Make Vet Visits Affordable in 2022

If the situation is minor, you might be lucky and get away

Photo by Tim Samuel from Pexels

Know Your Florida Driving Rules

There is so much to do in the region, but we want to focus on some of

Photo by Ging Ang from Pexels

Holidaying in your own Country: Try these Fun Trips!

Many countries are opening their borders, but if

Photo by Jessica Lewis Creative from Pexels

The Best Tech Tools for Expats

Here’s a quick look at most versatile tech tools for expats on the m

Photo by Tobi from Pexels

How to Turn a Road Trip Into A Luxury Adventure

But a road trip doesn’t have to mean living on the

Australian Citizenship Test: Everything You Need to Know

Australian Citizenship Test: Everything You Need to Know

Do you want to become a citizen of Australia

Hair transplant Istanbul: Why is it so popular?

Hair Transplant Istanbul: Why is it so Popular?

Getting a hair transplant in Istanbul is affordable i

What’s Going on with Rental Cars Right Now?

What’s Going on with Rental Cars Right Now?

They are incredibly expensive, and they’re also in sh

Role of Professional companies in International Trade

Role of Professional companies in International Trade

International trade holds great importance in a

The 5 Best Wines from Germany

The 5 Best Wines from Germany

Riesling is Germany’s best-known wine, but the country makes other fi

Here's Why You Should Go Camping On Weekends

Here's Why You Should Go Camping On Weekends

There is nothing like the great outdoors –– nature

The Best Tote Bags To Travel With in 2022

The Best Tote Bags To Travel With in 2022

Who knew you could pack your entire life away into one litt

7 Captivating Attractions for Kids in San Diego

7 Captivating Attractions for Kids in San Diego

San Diego is a magnificent place, and it would not be

travelers today

© 2023 TRAVELERS TODAY All rights reserved.

Subscribe to our newsletter
Real Time Analytics