Jummy John's subs from IL to anywhere else

[spidey07]

Stupid lolibtard policies force business from their state. Michigan? CA? NY? Are you listening? You raise taxes in this Union and business will find a way. It always finds a way around you. Fight on patriots, keep the fight and flee to free states.

http://www.news-gazette.com/news/bu...mplates-moving-headquarters-out-illinois.html

CHAMPAIGN – The founder of Jimmy John's said he has applied for Florida residency and may recommend that his corporate headquarters move out-of-state as a result of the Illinois tax increases enacted last week.

Jimmy John Liautaud told The News-Gazette on Tuesday that he is angry about the moves, which boosted the individual income tax from 3 percent to 5 percent and the corporate income tax from 7.3 percent to 9.5 percent.

"All they do is stick it to us," he said, adding that the Legislature and governor showed "a clear lack of understanding."

"I could absorb this and adapt, but it doesn't feel good in my soul to make it happen," Liautaud said.

Jimmy John's, which has its corporate headquarters on Fox Drive in Champaign, has more than 1,000 sandwich shops nationwide, many of them franchise operations.

<snip>
He opened his first sandwich shop in Charleston in 1983 and opened his third shop, in Champaign, in 1987.

"I'm not a greedy American pig," Liautaud added. "I'm a hard-working, bread-baking, meat-slicing delivery guy who happens to be immensely successful."

 

[Steeplerot]

Fight on patriots, keep the fight and flee to free states.

Paddle faster! I hear banjos!

 

[boomerang]

Naw, we gots a Republican running the state now.

 

[Steeplerot]

It's too bad Spidey, we evil socialists already released a genetic altering chemical into the USAs water supply based off of a dna sample from Lenin's left buttcheek back in the 1950s! (you capitalist-running-dog fools thought it was only fluoride! Mccarthy and Bill OReilly were right!)

We have already sapped your patriotic essence Spidey. Soros is on his way with the gay raygun to take care of you meddlesome conservative kids now.

 

[nick1985]

Wisconsin is offering Illinois businesses 2 years tax free if they move their company there.

 

[IndyColtsFan]

Wisconsin is offering Illinois businesses 2 years tax free if they move their company there.

I saw a few headlines about the Mayor of Indianapolis (and maybe our governor as well) calling on businesses in Illinois to cross over to Indiana. I hope they grab a few.

 

[sactoking]

Hopefully he can remove his "restaurants" from all other states. JJ blows chunks.

 

[Brigandier]

Hopefully he can remove his "restaurants" from all other states. JJ blows chunks.

I like them, they have free smells.

 

[IndyColtsFan]

Hopefully he can remove his "restaurants" from all other states. JJ blows chunks.

JJ is great. Hunter club with extra tomatoes FTW.

 

[dmcowen674]

Jimmy John's subs from IL to anywhere else

Hopefully he can remove his "restaurants" from all other states. JJ blows chunks.

This

Stop talking about it and move already.

 

[Craig234]

What a crybaby. Two of Illinois neighbors' governors - IIRC Wisconsin and Indiana - were criticizing Illinois for this and trying to recruit business.

Funny thing is, Illinois' taxes were low, lower overall than either of those states AFTER the increase.

Illinois mentioned they wish they had the tax structure of those states - either of their tax rates would bring in over $10 billion MORE per year in Illinois.

 

[Zebo]

That guy needs Goldman Sachs or Exxons accountant. Hundreds of billions in profit no taxes paid.

Anyway this is nothing new. States fight each other for Business as long as I can remember even going so far as to give free land and lifetime tax exemptions just to get them there. Problem is shit needs to get paid so govts take out bonds to mask their shenanigans and that house of cards will come tumbling this year.

 

[bpatters69]

It's too bad Spidey, we evil socialists already released a genetic altering chemical into the USAs water supply based off of a dna sample from Lenin's left buttcheek back in the 1950s! (you capitalist-running-dog fools thought it was only fluoride! Mccarthy and Bill OReilly were right!)

We have already sapped your patriotic essence Spidey. Soros is on his way with the gay raygun to take care of you meddlesome conservative kids now.

You libs really crack me up. You offer no rebuttal, no response, just your fantasy drivel. Go back to your big Gubmit and excessive taxes where you feel so comfortable. When you have something intelligent to add, come back and post.

Here are the facts of this situation. Here we have a sucessful business owner who is considering moving his hq because he disagrees with the recent tax increases in his state. Guess what this is called? Wait for it........... CAPITALISM!!!! Capitalists take action. They do not wait around for Big Gubmit, they go around Big Gubmit and their dopey policies.

 

[IBMer]

You libs really crack me up. You offer no rebuttal, no response, just your fantasy drivel. Go back to your big Gubmit and excessive taxes where you feel so comfortable. When you have something intelligent to add, come back and post.

Here are the facts of this situation. Here we have a sucessful business owner who is considering moving his hq because he disagrees with the recent tax increases in his state. Guess what this is called? Wait for it........... CAPITALISM!!!! Capitalists take action. They do not wait around for Big Gubmit, they go around Big Gubmit and their dopey policies.

Show me, where since Regan any president actually made the government smaller. Just because its the new rhetoric of your party, doesn't mean its true yet. How about you wait till they actually make anything smaller.

 

[piasabird]

Let them move out already.Maybe Illinois will get the message, but I doubt it.

 

[IndyColtsFan]

What a crybaby. Two of Illinois neighbors' governors - IIRC Wisconsin and Indiana - were criticizing Illinois for this and trying to recruit business.

Funny thing is, Illinois' taxes were low, lower overall than either of those states AFTER the increase.

Illinois mentioned they wish they had the tax structure of those states - either of their tax rates would bring in over $10 billion MORE per year in Illinois.

Not true -- Indiana's corporate tax rate is lower (8.5&#37; vs. 9.5% for Illinois per the article above) than the increased tax rate of Illinois and the personal income tax rate is lower as well.

This is interesting if true....

The Tax Foundation, a nonpartisan tax research group in Washington, noted if the proposed corporate tax hike becomes law, Illinois businesses will pay the highest combined national-local corporate tax rate in the industrialized world.

Bring them to Indy!

 

[nick1985]

Funny thing is, Illinois' taxes were low, lower overall than either of those states AFTER the increase.

As Indy just pointed out, the corporate tax IS LOWER in Indiana. Not sure about Wisconsin but I wouldn't be suprised.

 

[IndyColtsFan]

Ouch!

- The article and the state Democrats point out that up until now, Illinois had the lowest income tax among its neighboring states including Indiana, Iowa, Missouri, and Wisconsin. However, with a 66&#37; increase in the state income tax rate, it is no longer able to make that claim, especially relative to Indiana which has an income tax rate of only 3.4%. Eventually, residents and companies will start looking at states like Indiana in order to ease the financial burden of higher personal income taxes.

After the Illinois income tax increase takes effect, Indiana will be more attractive to families and businesses in the areas of personal income tax and will retain its advantage in corporate tax levels, property tax levels, and sales tax levels.

Even before the tax increases, Indiana and Missouri had much stronger overall tax favorable rankings, 4th and 16th out of 50 states, vs. Illinois which had an rank of 29th before the tax moves.

Shall I continue Craig? And I won't even begin to discuss Illinois' budget deficit vs. Indiana's budget deficit.

 

[PokerGuy]

California has some advantages (demographics, location, weather, silicon valley) that other states can't easily duplicate, so they have some insulation against companies leaving to avoid liberal stupidity. Other states like IL don't have that much insulation, companies can (and will) move when the stupidity levels finally reach the critical turning point.

 

[K1052]

Not true -- Indiana's corporate tax rate is lower (8.5% vs. 9.5% for Illinois per the article above) than the increased tax rate of Illinois and the personal income tax rate is lower as well.

No company is going to uproot their entire business to chase a 1% annual tax benefit that will evaporate in 4 years once the IL taxes reset. Moving a sizable company costs a fortune and many employees are locked into mortgages they can't easily sell or make rental parity on.

 

[IndyColtsFan]

No company is going to uproot their entire business to chase a 1&#37; annual tax benefit that will evaporate in 4 years once the IL taxes reset. Moving a sizable company costs a fortune and many employees are locked into mortgages they can't easily sell or make rental parity on.

I never said they would. I said that politicians from Indiana (as well as other states) are campaigning for those businesses. The other sources I quoted seem to think it is a possibility as well.

You're also ignoring the fact that other states will throw in extra incentives and those, coupled with their lower income taxes, could be enough. I'd also be skeptical that those Illinois tax rates will "reset" in 4 years as well.

 

[K1052]

As Indy just pointed out, the corporate tax IS LOWER in Indiana. Not sure about Wisconsin but I wouldn't be suprised.

The new IL corp tax rate is 7% for the next four years. WI is at 7.8%

WI would have to cut its corp tax rate buy at least a couple percent on a permanent basis to make it worthwhile for a business to consider relocating.

 

[nick1985]

No company is going to uproot their entire business to chase a 1% annual tax benefit that will evaporate in 4 years once the IL taxes reset.

Wait, you actually bought that line? Kind of like how our tolls will go away?

I guess there is a sucker born every day.

 

[nick1985]

The new IL corp tax rate is 7% for the next four years. WI is at 7.8%

Corporations also pay a 2.5 percent tax on income, called the personal property replacement tax, which is collected by the state and flows to local governments. The two rates taken together come to 9.5 percent, the third-highest rate in the U.S., according to the Tax Foundation, a non-partisan Washington-based research group.


http://articles.chicagotribune.com/...es-20110112_1_tax-rate-income-tax-tax-package

 

[K1052]

I never said they would. I said that politicians from Indiana (as well as other states) are campaigning for those businesses. The other sources I quoted seem to think it is a possibility as well.

You're also ignoring the fact that other states will throw in extra incentives and those, coupled with their lower income taxes, could be enough. I'd also be skeptical that those Illinois tax rates will "reset" in 4 years as well.

The sunset provision was specifically written into the legislation. As are the spending caps that if violated automatically repeal the entire tax increase. It never would have passed without those provisions.

Incentives are nice but they don't last and IL can (and has) easily replicate them. Chicago in particular has zero qualms about wheeling and dealing with companies to attract and keep them. The real question becomes what state will have the lower overall income taxes over the long haul for both business and personal.