Walgreens may move its headquarters from Chicago to Switzerland?

[rph3664]

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Members don't see this ad.

That surprises me. I'd expect them to move to, say, Mexico or China, and you know they would if they could.

http://articles.chicagotribune.com/...629_1_walgreen-co-tax-loophole-alliance-boots

 

[genesis09]

First, Walgreens is not headquartered in Chicago. It is headquartered in Deerfield, IL. It is a suburb about 30 miles from Chicago. The reason for Switzerland has to do with the potential merger with Boots which is headquartered in Geneva.

 

[anewmanx]

Do you guys realize how freakin incredible tax rates are in Schweiz? Hell, personal income taxes in Zug are only 5% of income. Team that up with six figure salaries being the standard for most expats and you can see why the US Embassy there has a waiting list to renounce citizenship (I.E. avoid double taxation.)

I'm sure they'd love to get as much of their assets as possible out from under the US tax cloud so they can make incredible bank on the interest return without paying our stupid tax rates.

http://www.gmgtrust.com/gmg-international/switzerland/taxes-in-switzerland/

 

[Jibby321]

First, Walgreens is not headquartered in Chicago. It is headquartered in Deerfield, IL. It is a suburb about 30 miles from Chicago. The reason for Switzerland has to do with the potential merger with Boots which is headquartered in Geneva.

Wait, I thought Illinois was in Chicago?










I kid, I kid.

 

[confettiflyer]

It's called an inversion, it's pretty common. They're not up and moving out of the country, physically speaking.

 

[rph3664]

Wait, I thought Illinois was in Chicago?










I kid, I kid.

There's Chicago, and then there's the rest of the state.

 

[Dred Pirate]

Wait, I thought Illinois was in Chicago?










I kid, I kid.

this made me laugh - I used to work in downstate Illinois - those are two completely different worlds - each side thinks life would be better if they split into two states

 

[genesis09]

In Illinois, there is north of I-80 and south of it. That is the big dividing line. I live now in Wisconsin, and during this time of year, you'll see a lot of Illinois cars going north on I-43 (the quickest route from Chicago to northern Wisconsin) on Friday and south on Sunday. They call people from Illinois, FIBs. You can look up what that means.

 

[lunesta]

When I was visiting TN, I mentioned to another tourist that I was from Illinois. He asked if I was from Chicago (everyone in IL must be from Chicago), to which I replied no, that I'm from the southern part of the state. His next question was if I was a farmer. I guess "not from Chicago" = automatic farmer status, lol.

Edit: looked up fib. That's hilarious and I can totally see that being true.