Archer Daniels Midland, a highly profitable company, is demanding over $20 million in tax breaks to keep its headquarters in Illinois.
With net profits of $1.7 billion dollars in 2012, on which they paid state taxes of less than 1% instead of the statutory requirement of 9 1/2%, ADM does not need more tax breaks. Their spokesperson admitted as much when it was said that the only reason they are requesting a tax break is because Illinois set a "precedent" by giving other profitable companies undeserved tax breaks.
With Illinois financial situation in a state of crisis, it is time to break with that precedent and say "no" to tax breaks for profitable companies.
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Now other companies are demanding tax breaks. Zurich, Univar, High Voltgage Software, Office Max and future merger partner Office Depot are all demanding tax breaks from the real tax payers in Illinois.
With Illinois financial situation in a state of crisis, it is time to break with that precedent and say "no" to tax breaks for profitable companies.
Find out what's happening in Plainfieldfor free with the latest updates from Patch.
The Legislature is considering these tax breaks this week!
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