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Monday, September 30, 2013

Sinquefield Pushes for Tax Reform in Missouri

News summary by MFWire's editors

Dimensional Fund Advisors co-founder Rex Sinquefield said that firm, which he helped co-found in 1981, would have been headquartered in Missouri, if it weren't for the state's tax policies, according to the St. Louis Post-Dispatch.

“If Missouri didn’t have an income tax, Dimensional Fund Advisors would be in Kansas City,” he is quoted as saying during an appearance on the KMOX radio show Mark Reardon's Roundtable. “We have 500 employees in Texas, and we’re not here just because of income taxes.”

The firm moved its headquarters from Santa Monica, Calif., to Austin, Texas in 2007 — a move that Sinquefield said was "primarily because of income taxes.” Texas has no state income tax. The Post-Dispatch reports that Sinquefield's radio remarks were the first major public comments he made investing more than $2 million into an unsuccessful effort in the summer to override Gov. Jay Nixon’s veto of a Republican-backed tax cut proposal. 

Edited by: Tommy Fernandez

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