TAXATION
Live events industry

 

Louisiana has passed a law to allow the Baton Rouge city-parish to be able to provide a local tax break to keep the Bayou Country Superfest at Louisiana State University’s Tiger Stadium for years to come. The authorization came as Gov. Bobby Jindal signed Senate Bill 475 into law –  passed during the just-ended 2012 legislative session.

Bayou Country Superfest promoters would be able to get a tax rebate that amounts to about a $300,000 loss in local sales tax revenue for entertainment events that take place in a large venue, for which only LSU’s Tiger Stadium fits the definition.

The tax break would be performance-based where average attendance at events has to be at least 25,000. The rebate would be on ticket sales and parking charges associated with the event.

Tickets for the recent Memorial Day weekend event ranged from $50 to $250 a day. City-parish officials originally sought a state tax break too but that provision got stripped during the legislative process. SB475 sponsor state Sen. Yvonne Dorsey-Colomb, D-Baton Rouge, said the concerts have been profitable for LSU and bring thousands of country music fans to the area where they spend money.

During legislative debate, Dorsey-Colomb said Baton Rouge is competing with Houston and other cities for the event.

http://theadvocate.com/news/3101140-123/entertainment-events-tax-breaksigned-into