Lollapalooza Gets Tax Break: Report

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

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.

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