Jimmy John’s Founder Threatens To Leave IL over Tax Hikes
The founder of Jimmy John’s Sandwich shop, Jimmy John Liautaud is fairly pissed about the personal and corporate tax hike in IL this year. In fact he is so pissed he is moving his family to Florida and has yet to decide whether or not to move the company’s corporate headquarters out of Champaign IL to a more business friendly corner of the country.
The company was founded in IL and has been headquartered there since the late 80’s. The headquarters employes around 100 full time and 100 part time workers.
Hell, i am with Mr. Liautaud, Illinois is a complete joke and the state is not fixing problems they are simply charging more to live within the state plugging holes in the budget which they simply are not going to even try to fix. They are not trying to fix the system primarily because the system is so completely screwed up it will be next to impossible to fix without bankrupting the state. Do it i say!!! They allow hand guns in the home in Cook Co. now, let the civil unrest begin.
(news-gazette writes) 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.
I fear many business owners who worked from the ground up and have remained loyal to the state of IL are now at the point of no return, we have already seen the exodus out of Cook Co., perhaps it is now time business’s downstate start to explore other more tax and business friendly states….
Popular HedgeBz Posts
- TRENTON: Tighter controls eyed on acquisition of military…
- Tim Cook Will Donate Entire $785 million Fortune $AAPL
- Julian Robertson’s Hedge Fund TigerShark Management To
- OFR Issues Warning On Bull Market Valuations $SPY $VXX
- Mia Khalifa Hints ‘Rake’ aka #Drake Sent Her A…
- Stories From Inside the Putin Propaganda Machine
- #TopGear’s Jeremy Clarkson Offered Job By Russian Military