The chairman of the Illinois Senate Revenue Committee is open to
listening to CME Group Inc.'s (CME) views on why it might be
eligible for a tax break, although she said she dislikes big
Illinois companies "holding the state hostage" over tax issues,
Crain's reported on the Chicago Business website Wednesday.
CME has threatened to move its headquarters out of the state,
saying it unfairly shoulders a higher tax burden than other
Illinois companies because of the way its financial exchange
transactions are taxed, the report said.
Sen. Toi Hutchinson said after a speech Tuesday to the
Taxpayers' Federation of Illinois that the state has been "shooting
buckshot" in carving out breaks for some big companies while
leaving smaller companies to fend for themselves. "I just don't
think it's good tax policy," she said, according to the report.
"We've been meeting with their tax department and will continue
to do so, brainstorming ideas, and then I think it will go back to
the senior levels of the administration," Illinois Revenue
Department Director Brian Hamer said, referring to CME, according
to the report.
Full story at
http://www.chicagobusiness.com/article/20110921/NEWS02/110929981/state-revenue-officials-open-to-cme-tax-reduction#ixzz1Ycr4yqVs
-Dow Jones Newswires; 212-416-2900