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Quick Hit
by Ellyn Fortino
Wed Apr 29, 2015

The High Cost Of Offshore Tax Havens On Small Illinois Businesses

If Illinois small business owners were to collectively offset state and federal revenues lost annually due to corporations using offshore tax havens, they would each have to pay $4,570 in additional taxes a year.

That what-if scenario is laid out in a recent report from the Illinois Public Interest Research Group (PIRG) examining the issue of "corporate tax haven abuse" and what it means for small businesses.

Through the use of accounting "gimmicks" to shift profits offshore, corporations avoid paying $110 billion annually in federal and state income taxes combined, according to Illinois PIRG's "Picking up the Tab" report. Specifically, about $90 billion in federal and $20 billion in state corporate income tax revenue is lost each year to tax havens, the research reveals.

Quick Hit
by Anthony Burke Boylan
Fri Jun 20, 2014

Local Female Tech Leaders Call On Microsoft To Drop Techweek Sponsorship (UPDATED)

Techweek is a “repeat offender’’ when it comes to sexism and has a “frat house mentality embedded in (its) organizational DNA,’’ according to a letter a group of local women in technology sent to Microsoft Corp. asking the company to withdraw its sponsorship from next week’s event.

The letter is based in part on a controversial flier featuring women in provocative clothing and poses that made news earlier this month, but women say it goes way beyond that. The Black Tie Rave and Spring Awakening after party, the subjects of the offensive flier, were fundraisers to be held June 14 in advance of the annual Techweek Chicago event, but were cancelled due to widespread complaints of impropriety.

“Techweek is not too big to fail. It is not a revered institution. It is a repeat offender,’’ reads the letter, sent to Microsoft on June 10. “It has shown its stripes over and over as an organization that views women as the entertainment, the decoration, or the prize, not as makers, doers, entrepreneurs, visionaries.’’