Buried In Budget 'Theatre Tax' Set To Batter A Bruised Broadway

The New York Post's Michael Riedel has a VERY informative item in the Sunday editon of the Post today regarding the recent budget proposal put forth by Gov. David Paterson last week, among the many hefty tax increases listed there is a "hidden" in the mix upper cut to good ol' Broadway.

Reidel describes it as such, "Black Tuesday" - when the first six of 13 shows slated to close go dark on January 6th - Broadway has been hit with a final indignity: a 4 percent tax on theater tickets".

The hike was not given top billing when Gov. Paterson's proposal of 137 new and increased taxes to address state budget shortfalls was released last week - but producers discovered it buried in there explains The Post.

Executives say the fee could be the final blow to an industry reeling from dwindling ticket sales, to read the entire by Michael Riedel click here.

This January will see a number of Rialto favorites bid adieu to Broadway, the post Holiday months are always rough but this year with the economy tanking has proven to being particularly harsh in regards to departing shows.