A breakdown of Tesla's $1.25 billion tax deal

The governor of Nevada has pulled together a tax package designed to entice Tesla Motors and its gigafactory that will be worth about $1.25 billion to the company over 20 years, according to a detailed breakdown.

The deal, which has yet to receive approval from the Nevada legislature, would basically mean that Tesla operates tax-free in Nevada for a decade, the Reno Gazette-Journal said.

A number of states, including Texas and California, competed with Nevada for the factory, which will make lithium ion batteries for Tesla's all-electric automobiles.

The proposed Nevada package more than doubles the $500 million package that Tesla CEO Elon Musk said he wanted for the factory.

For the full story, visit the Reno Gazette-Journal's website.