The Sinking Ship That is Illinois

Posted: April 7th, 2011 by Militant Libertarian

from Days of Our Trailers

Most people don’t know but IL Gov. Quinn signed a law a bit ago that forced online retailers located in IL to collect sales tax for ALL sales in an effort to generate revenue.

This is the result:

FatWallet.com is leaving Illinois for Wisconsin after losing business ties with major online retailers since Gov. Quinn signed of the “Amazon.com tax” earlier this month.

The web shopping business, based near Rockford, partners with online retailers like Amazon and Overstock.com, will relocate to Beloit on April 8 after at least a dozen retailers told FatWallet they would cut ties after the law forced online retailers to collect the state’s 6.25-percent sales tax in a way to preserve profits.

The company, which nets about $13 million a year, was expecting to lose $4 million in annual revenue, said Brent Shelton, FatWallet.com spokesperson.

The company, which employs 54 people, will look for permanent residency in Beloit after the move. Shelton said the company did not know if it would ever return to Illinois.

Congratulations Gov. Quinn and legislators that voted for this. You’re doing a fine job. Of what I don’t know. But a fine job.

I highly doubt any other retailers will move TO Illinois. Now the question is just how many will leave and how many jobs will it cost the workers.

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