CME: Illinois Tax 'Untenable', Looking South

Quote from bone:

Nashville makes alot of sense, actually.

No state individual income tax. No state capital gains tax. Lowest electricity rates in the country. Cheap local taxes. The published corporate tax is half of Illinois', and they will be very accomodating on a case-by-case basis. Lots of companies are relocating to the central part of the State.
More...

TN taxes interest and dividends. I just don't see it. Nashville is not a really big town; growing yes because of its great business climate and locale. There I agree with you 100% But for a major exchange, it should go where there'd be some good synergies, like access to international in Miami or energy/commodities in TX.
 
CNBC's Top States For Business 2010—And The Winner Is Texas

Runner-ups in order:
Viginia
Colorado
North Carolina
Massachusetts <- Mitt Romney's state!
whohoosmiley.gif
 
Quote from buzzy2:

Actually the 2nd most important factor after taxes is the internet fiber optics backbone, and AFAIK Miami is far better located than Chicago, resulting in lower latency for CME products worldwide.
For NY traders there will be almost no difference, and west coast traders will be a little worse off.
More...

Hurricanes are something of a problem though.
 
As long as they finally cut their exchange fee in a meaningful way, I give a sh1t about their "tax situation". They are "stealing" anyway any serious trader more money through their absolutely inflexible fee system that I throw up every time I see our monthly transaction cost analysis.

Over years, CME is THE MOST EXPENSIVE EXCHANGE WORLDWIDE ON OUR BOOKS.
 
The stupid governor imposed a big state tax hike, according to my brother in the Chicago suburbs... which has resulted in many companies avoiding Illinois and moving to nearby farmersville: Wisconsin... Wow, that's a great way to close a shortfall in tax revenues...
 
Thank god for tax competition. It's the only thing keeping state taxes from getting ridiculously high.

I would like to see all federal taxes moved to the state or local level where they would be subject to competitive pressures. Let the states with the best mix of taxes vs services out-compete the others to attract residents and businesses.
 
The exchange itself is not moving nor is their data centers. They are talking about moving their executive offices. No one on this forum would even notice if they moved.
 
You must log in or register to reply here.
Back
Top