NHL Lockout Costs City Estimated $1.3 Million In Taxes So Far
By Mike DeNardo
PHILADELPHIA (CBS) – The city’s coffers are already much lighter because of the ongoing NHL lockout.
Just counting the loss of 13 home Flyers games in October and November, Philadelphia Revenue Commissioner Keith Richardson estimates the city has lost $1.3 million from player wage taxes and amusement taxes on tickets.
But there’s more. Richardson says there’s an incalculable trickle-down impact of lost wage taxes from game-day employees, parking and concession taxes, and liquor-by-the-drink revenue that would be going to the School District of Philadelphia.
“The city’s probably missing out also on the sales tax from items that may be purchased that have Flyers paraphernalia or other teams’ paraphernalia. So that’s an unknown variable that we can’t really quantify. But I’m pretty sure we’re missing some percentage of money.”
Richardson says a completely lost season would cost the city $3.9 million alone, in player wage tax and amusement tax revenues.