See article here. 2016 is the last year for the Illinois tax credit. http://www.chicagotribune.com/business/ct-biz-sears-tax-credits-20180205-story.html
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The agreement Sears had with the state of Illinois did include a provision for property tax relief, for 15 years I believe, and property taxes have to be paid regardless of your profitability, absent any side agreements.
Yes @wcc, there are property taxes, excise taxes, payroll taxes, franchise taxes, etc. And no, a franchise tax is not a tax that a franchise pays, but one that a corporation pays for the "priviledge" to do business in a particular state. I know you were trying to be snarky, but you can really only pull that off if you know what you're talking about. Google that tax thing cause I can tell you will need help understanding it.
Surely you must realize there is more than just an income tax on a business. What country are you from?
I made might be wrong but dont companies pay taxes on thier profits? The last time Sears made a profit was at least 15 years ago.
Ouch more bad news for Sears man it must s---s how everything is piling up on them. Another big hit economically for them who knows how much longer they have.
This the least of their worries.
Serves them right!
Maybe they can give those tax breaks to small businesses.