State House speaker and Senate candidate Thom Tillis likes to talk about what the General Assembly — under his leadership — has done to improve the business climate in the Tar Heel State. Yet — according to some research by WRAL — Tillis is an “owner” in PDQ Ft. Mill, LLC.
The LLC — established in 2010 — does not appear on Tillis’ 2011 financial disclosure form.
(But Aquesta Bank DOES. Tillis supporters claim the speaker is merely a shareholder in this publicly-traded bank. But, on his own form that he signed, Tillis identifies the bank as a “non-public” company. )
The firm appears to be a franchisor or franchisee for the PDQ fast food chain. Granted, Ft. Mill, South Carolina is a stone’s throw from Charlotte. But it is in the Palmetto State. And Tillis is one of the top elected officials in the Tar Heel State. A search of the NC Secretary of State’s web site finds no incorporation information for PDQ Ft. Mill, LLC in North Carolina. However, a search of the South Carolina secretary of state’s site finds PDQ Ft. Mill, LLC to be a foreign entity incorporated in the state of Florida — which has NO state income tax. (No state income tax. Wouldn’t that be nice, fellow Tar Heels?)
During this year’s tax reform debate in the General Assembly, Tillis and his House leadership team pushed a much less-aggressive approach to taxes than the Senate did.