Jimmy John's Sandwich Shop Running From Illinois' Higher Taxes

Jimmy John's is preparing to leave Illinois for warmer beaches
and less taxes.

It's already begun in my old home state of Illinois. To make up for the huge budget short falls brought on by abused government pension plans and other misdeeds, taxes have been raised. So it should be no surprise that like other states which have been down this road, companies have begun their exodus out of the Land of Lincoln.

The founder of Jimmy John's said he has applied for Florida residency and may recommend that his corporate headquarters move out-of-state as a result of the Illinois tax increases enacted last week.

Jimmy John Liautaud told The News-Gazette on Tuesday that he is angry about the moves, which boosted the individual income tax from 3 percent to 5 percent and the corporate income tax from 7.3 percent to 9.5 percent.

"All they do is stick it to us," he said, adding that the Legislature and governor showed "a clear lack of understanding." "I could absorb this and adapt, but it doesn't feel good in my soul to make it happen," Liautaud said.

Champaign has been its corporate base, but Liautaud said it will not necessarily continue that way. Liautaud said he has been contacted by "multiple pro-business states" that made him feel "wanted and important."