Do or die for massive Illinois tax hike
http://money.cnn.com/2011/01/11/news/economy/illinois_income_tax/index.htm
http://money.cnn.com/2011/01/11/news/economy/illinois_income_tax/index.htm
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A good reason to move to Mohawk
- Thread starter ubee
- Start date
Eagle River Mike
Member
Illinois taxes a corporation based on the percentage of sales made to Illinois customers. They no longer include Illinois payroll or property when calculating the percentage of income to be taxed by the state. As such, it would do no good for a company to move its corporate HQ to Wisconsin unless they want to abandon their Illinois customer base, which is unlikely. And, yes, I am a CPA who is heavily involved in corporate taxation.
Wow, I haven't had a raise in years, because they said I already make too much. Then this year they cut my pay. Now these gov. officials, are going to take more out of my check!?
Oh yeah, medical went way up, and my property tax's will be well over 4000 a year!
I love Illinoys
Forgot to add, my car insurance is going up, to cover all the wrecks in the Chicago area.
Thanks for letting me bitch a little.
Oh yeah, medical went way up, and my property tax's will be well over 4000 a year!
I love Illinoys
Forgot to add, my car insurance is going up, to cover all the wrecks in the Chicago area.
Thanks for letting me bitch a little.
Last edited:
Illinois taxes a corporation based on the percentage of sales made to Illinois customers. They no longer include Illinois payroll or property when calculating the percentage of income to be taxed by the state. As such, it would do no good for a company to move its corporate HQ to Wisconsin unless they want to abandon their Illinois customer base, which is unlikely. And, yes, I am a CPA who is heavily involved in corporate taxation.
Didn't know that. Why then do companies move to places like South Dakota for "tax reasons"? BTW, not challenging you at all, I would like to understand better.
I am talking headquarters, not sales offices, customers not affected.
The Apostate
New member
Would it be wise to invest moving companies? Anybody hiring up north?
arcticgeorge
New member
Illinois sucks especially the DNR
Here's an article that shows the top 10 states people are fleeing, i guess i was ahead of the curve...Also there are tax free landsites in the UP. to encourage business to move. You can move a company and not lose "thier customer base" Nobody will buy thier products cause they moved 1 state away? Maybe some......... http://realestate.yahoo.com/promo/top-10-states-people-are-fleeing.html
Here's an article that shows the top 10 states people are fleeing, i guess i was ahead of the curve...Also there are tax free landsites in the UP. to encourage business to move. You can move a company and not lose "thier customer base" Nobody will buy thier products cause they moved 1 state away? Maybe some......... http://realestate.yahoo.com/promo/top-10-states-people-are-fleeing.html
tealracing16
Member
Wisconsin Governor
Yeah we're open for business!! Unless you want to use federal dollars to build a railway. Then get the **** out. He's gonna make something like 250,000 jobs, but first we must stop the railway!!
Yeah we're open for business!! Unless you want to use federal dollars to build a railway. Then get the **** out. He's gonna make something like 250,000 jobs, but first we must stop the railway!!