Lollapalooza Gets Tax Break: Report - NBC Chicago

Lollapalooza Gets Tax Break: Report

Lollapalooza will be exempt from paying amusement taxes for the seventh year in a row



    Lollapalooza Gets Tax Break: Report
    Lollapalooza hits Grant Park Aug. 5-7.

    City Hall gave Lollapalooza a big gift.

    For the seventh straight year, Chicago and Cook County will exempt the music festival from paying amusement taxes, according to the Chicago Sun-Times.

    The exemption will save promoters, C3 Presents LLC, more than $1 million.

    The festival got its latest waiver from the city's 1.5 percent amusement tax in the final days of the Daley administration.

    Officials tell the Sun-Times that Lollapalooza got the exemption because C3 Presents puts together the festival with the Parkways Foundation, which is Chicago Park District's non-profit fund raising organization.

    Parkway will receive a maximum of 10.25 percent of the festival's revenue.

    Approximately 270,000 people are expected to attend this weekend's concerts.