Missouri looks to profit from Illinois tax hikes

Missouri business leaders said Wednesday they are looking for ways to attract business away from neighboring Illinois, which is poised to raise the state’s income tax by 67 percent and corporate income tax by 46 percent.

Illinois Gov. Pat Quinn said he’ll sign the tax increases to help plug the state’s $15 billion budget deficit. In response, the Missouri Chamber of Commerce and Industry said it is looking at ways to “position Missouri to take advantage of our neighboring state’s economic misfortune.”

[St. Louis Business Journal]