Fortune 500 Companies in Illinois with the Most Cash Stashed Overseas

Dozens of Illinois Fortune 500 companies stashed more than $135 billion in offshore tax havens last year, according to a new report published by Citizens for Tax Justice and the Illinois PIRG Education Fund.

The report, “Offshore Shell Games 2015,” found 72 percent of Fortune 500 companies, including 29 in Illinois, maintained tax haven subsidiaries.

Exploiting tax loopholes and amassing cash overseas through foreign subsidiaries is a common practice among U.S. multinational corporations, but it comes at a major price for the states in which these companies are headquartered, especially in Illinois, which has 34 Fortune 500 companies — the fourth-most in the nation behind New York, Texas, and California.

Each year, Illinois loses $1.2 billion in corporate income tax revenue, according to Illinois PIRG. Opponents and business advocates argue strenuously that closing tax loopholes harms job creators and encourages big business to relocate to other states.

Here are Fortune 500 companies in Illinois that had the most cashed stashed in offshore tax havens in 2014.

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