In the News

Andrew Scott Authors Crain’s Chicago Business Article on Corporate Tax Disclosure Ordinance

Explains Why Ordinance, Introduced by Two Chicago Aldermen, Is Likely to Have Adverse Impact

December 17, 2013

Andrew Scott, Chicago-based member in the Real Estate Practice Group whose practice focuses on various forms of economic development incentives—including tax increment financing, tax sharing and corporate tax credits—authored an op-ed piece for Crain’s Chicago Business. The article, ”Why the corporate tax disclosure ordinance is a bad idea,” appears on the front page of the publication in its December 17, 2013 edition.

Scott’s op-ed is part of a two-part “point/counterpoint” exchange, with an accompanying piece—arguing in favor of the ordinance—authored by the two aldermen who co-sponsored the proposal.

In the article, Scott argues that, as presently written, a proposed city ordinance requiring publicly-traded companies to disclose extensive state corporate income tax information will make Chicago “a much harder place to do business” and is likely to “set Chicago apart, in a negative way, from other cities around the country.”

In noting that this proposed ordinance will likely have a deterrent effect on the city’s abilities to attract and promote business investment, Scott recommends Chicago leaders focus instead on “ways to strengthen the already existing policies of analyzing the need for assistance in the first place.”

To read Scott’s op-ed piece in its entirety, click here.