The 45% increase in corporate taxes that Illinois’ Democratic leadership, acting in a lame-duck session, agreed to on Jan. 12 as part of a budget-balancing package, will not have an appreciable effect on the Boeing Co., a company official says.
While Boeing moved its corporate headquarters to Chicago from Seattle in 2001, the company does not have a manufacturing presence in the state. Since state taxes tend to be tied to a physical presence in a state and sales are attributable to operations in a state, the increase “is not significant,” the official said.
Most of Boeing’s operations are located in Washington and Missouri, with major portions also based in California, Kansas and South Carolina.
Meanwhile, Boeing and other aerospace and defense companies are expected to benefit from reductions in federal corporate taxes being debated in Congress.
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