Thursday, March 06, 2014

What a Deal

Seems like a pretty nice tax incentive from the state of Illinois:

"A bill making its way through the state House would allow Russian steel company Evraz Group to keep its employees' state taxes."

Apparently the state promises the company a tax break. But then, for one reason or another, the company doesn't really owe any state income tax for the year. Maybe they had a loss for the year. So then the company, which has withheld state income tax for its employees, wants to keep that money instead.

It's not a new practice here, but it remains controversial: "So far, nine companies have been allowed to keep their employees' taxes, including Sears Holdings, Motorola Mobility and Chrysler Group."

When it comes to smaller shops,
the state is less attentive.
I don't think mom-and-pops
get much tax incentive.

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