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Tax Deal for Illinois Exchanges May Face Legal Challenges

December 13, 2011

Partner Eric S. Tresh, a member of Sutherland’s State and Local Tax (SALT) practice, was quoted in Morningstar's recent coverage of a legislative tax deal in Illinois that aims to prevent the state's largest derivatives exchanges from leaving. If the legislation sponsored by State Senator Toi Hutchinson passes, there likely will be a constitutional challenge since it will create an uneven playing field for out-of-state operators.

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