Keeping your employees’ taxes

image credit:Jinx via Flickr (cc)

I have written before about the “economic development” tool which allows employers to keep the taxes paid by their employees.  Now I find that Good Jobs First has compiled a report showing that over 2700 companies in 16 states have got this kind of deal. The report includes a spreadsheet detailing the 3750 cases. Turns out that Illinois is far from the worst offender, gifting just $35 million of employees’ tax money, compared to $89 million in Indiana.

Thanks to David Cay Johnston via Reuters. Johnston says that these direct subsidies are considered necessary because states are already exempting such corporations from most real estate, income, and other taxes.  Altho he doesn’t mention it, states are also typically paying for worker training and infrastructure improvements.

 

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