Internet Sales Tax Hurts Businesses and the States That Pass Them
14th November 2013
No one understands the significance of last month’s Illinois State Supreme Court decision better than FatWallet founder Tim Storm. A year after the affiliate nexus law’s introduction, Storm and his 54 employees piled into thirty-odd cars and moved from their business headquarters in Rockton, Illinois to Beloit, Wisconsin—a five mile drive across state lines.
This appeared a strange, if not foolish, business decision for Storm and FatWallet. The company spent upwards of $100,000 preparing for the move and left behind a $5 million custom-built office in Rockton. Yet, FatWallet’s bottom line depended on getting out of Illinois.