Robert Werderich used to pay the property taxes he owed for operating his Illinois Aviation Academy out of space he rents from the DuPage Airport Authority. But he stopped paying years ago, which explains why his company now owes $187,937 in back taxes to 13 taxing bodies, including the airport itself. related advertisement Unpaid tax bills Seven current and former businesses that operate on property leased to them by the DuPage Airport Authority owe nearly $770,000 in back property taxes:• Scott Aviation/AGS Partners*: $268,177.39• AAA Properties: $230,889.76• Illinois Aviation Academy*: $187,937.11• Camden Aviation: $52,776.24• Travel Express Aviation*: $21,364.09• Cameron Aircraft Interiors: $5,063.44• Aerospace International: $1,824.83*Current leaseholdersSource: DuPage County treasurer Werderich is exploiting a loophole in the state property tax law that fails to penalize tenants operating businesses on government … [Read more...] about How DuPage Airport business tenants have avoided paying property taxes for years
Paying corporation tax
Mountain View passes corporate tax that will cost Google millions of dollars
Mountain View voters passed a business tax on Tuesday that will largely affect its hometown tech giant and biggest employer, Google. Nearly 70 percent of voters backed Measure P, which implements a per-employee business license tax that ranges from $5 to $150 per worker, rising with the size of the company. Businesses will also pay a flat fee of $75 a year. Google and its corporate parent, Alphabet, will pay over $3 million a year, contributing more than half of the tax’s estimated revenue of $6 million. The measure was one of two major Bay Area corporate tax measures that won on Tuesday. San Francisco voters also passed Proposition C, which imposes a gross receipts tax on companies making $50 million or more in revenue. Large tech companies including Salesforce and Square will pay tens of millions of dollars each year under Prop. C. It’s unclear how much Google would pay San Francisco, though companies with proportionately fewer employees and revenue in the city pay less … [Read more...] about Mountain View passes corporate tax that will cost Google millions of dollars
The RGA releases another ad hammering Gillum on $1 billion corporate tax hike
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The Republican Governor's Association is out with another TV ad hitting Andrew Gillum on his proposed $1 billion corporate tax hike to pay for education, comparing it to a car wreck that would bring the state's economy "to a sudden stop." "Florida's economy is running at full speed," the ad says. "37% growth since 2010. But Andrew Gillum's ideas would bring it to a sudden stop." Politifact in September rated the claim that Gillum would raise taxes by $1 billion "mostly true," but noted it lacked context. That same context is also left out of this ad. Gillum, who is running for governor, has said he wants to spend the money on raising the starting teacher salary to $50,000, increasing the pay for veteran teachers to the national average, and on early childhood education programs. Here's what else Politifact said about the RGA's September ad: The ad leaves out the details that voters might want to know about Gillum’s proposal. Gillum proposes raising the corporate … [Read more...] about The RGA releases another ad hammering Gillum on $1 billion corporate tax hike
Four questions you need answered about Andrew Gillum’s corporate tax plan
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The policy is an economic "disaster." People and companies will "flee" Florida. The Sunshine State will turn into New York or California overnight. That's just some of the messaging Republicans and business groups have used to describe Andrew Gillum's proposed corporate tax increase. The Democratic nominee says he wants to raise the state tax rate from 5.5 percent to 7.75 percent in order to finance a $1 billion investment in education. (Part of that investment would also come from the legalization and taxation of recreational marijuana.) Gillum's campaign says the increase is a way to make sure large corporations are paying their "fair share" in the wake of the significant tax cut they received from the 2017 Tax Cuts and Jobs Act. So is Gillum's plan an economic catastrophe in the making or a way to level the playing field? According to tax policy experts, the reality is more nuanced than either explanation. Here are four questions you need answered about Andrew Gillum's corporate … [Read more...] about Four questions you need answered about Andrew Gillum’s corporate tax plan
PolitiFact Florida: $1 billion Florida tax hike? Andrew Gillum proposes increasing state corporate tax
A TV attack ad portrays Florida Democrat Andrew Gillum as so "far out" that he is on another planet."Gillum wants to increase Florida taxes by a billion dollars. Disaster for the economy," says an ad by the Republican Governors Association showing Gillum’s headshot floating in space.The 30-second ad also attacks Gillum over his support for Medicare for All and abolishing the U.S. Immigration and Customs Enforcement. Here we’ll focus on whether Gillum wants to raise Florida taxes by $1 billion.He does, though the ad doesn’t make clear what taxes Gillum wants to raise, who would pay, and how Florida would spend the additional revenue.Gillum’s tax planGillum has proposed increasing Florida’s corporate tax rate from 5.5 percent to 7.75 percent to generate an additional $1 billion a year. His opponent, Republican Ron DeSantis, has signed a pledge not to raise taxes.Gillum said he would put that extra revenue toward education, including a minimum teacher salary … [Read more...] about PolitiFact Florida: $1 billion Florida tax hike? Andrew Gillum proposes increasing state corporate tax