Online shopping company FatWallet has found a bargain in moving to Beloit. The company that finds deals for online shoppers recently relocated to Beloit from Rockton, Illinois. The cause of the move stems from newly passed legislation in Illinois that would require its visitors to pay sales tax on Internet purchases. Worried that contracting companies would no longer work with FatWallet, founder Tim Storm moved his company 5 miles to Beloit. As Storm explains:
“This isn’t about us paying taxes or not paying taxes. It’s about us having contracts with retailers or not. We can’t just say, ‘Oh, let’s stay in Illinois and lose a quarter of a million dollars a month.’”
FatWallet , which was named one of the top small businesses workplaces by Entrepreneur magazine, may motivate other small online companies to relocate to Wisconsin who are suffering under new sales tax legislation.
To read more about FatWallet’s move to Wisconsin, click here.
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