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To: WellyP

The real story here is not that Sears is leaving, but why on Earth anyone is staying?


7 posted on 05/12/2011 2:36:45 PM PDT by Jack Hammer (e)
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To: Jack Hammer

Not to interrupt a good Illinois-bashing (I live so so I’m entitled) - but facts have a bearing on this discussion.

Corporate tax rate in Illinois after all the jacking-up = 5%.

After incentives, losses, loopholes, etc. only about 1/3 of corporations actually pay these taxes.

And they have to weigh the benefits of being in Chicago vs. the costs, including corporate taxes. Some comparisons:
Iowa: 7.92%
Minnesota: 7.05%
Wisconsin: 6.5%
Missouri: 6%
Kentucky: 5.8%
Indiana: 3.4%

Of the adjacent states, only one has a lower corporate tax rate.

And bear in mind that Sub-S corporations pass thru their tax liability to the shareholders.


15 posted on 05/12/2011 2:45:17 PM PDT by bigbob
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