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Jimmy John's founder contemplates moving headquarters out of Illinois
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Contributor | Servo |
Last Edited | Servo Jan 23, 2011 09:18pm |
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Category | News |
Author | Don Dodson |
Media | Newspaper - News Gazette |
News Date | Thursday, January 20, 2011 03:00:00 AM UTC0:0 |
Description | 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. |
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