Dayton: Use Cigarette, Corporate Taxes for Stadium
ST. PAUL (AP) - Gov. Mark Dayton is proposing that lawmakers use new revenue from taxes on cigarettes and corporate income to shore up the state's share of the new Minnesota Vikings stadium.
Dayton's revenue commissioner unveiled the latest proposal Thursday in the House-Senate tax conference committee. It comes as lawmakers rush wrap up this year's session by Monday.
The proposal calls for setting aside an estimated $24.5 million in one-time revenue that will be generated from current cigarette inventories when the per-pack tax is increased. Dayton is now backing a cigarette tax increase of $1.23 per pack to $2.52, more than he first proposed.
After that, additional backup money would come from toughening collections on corporate income that the administration says some corporations have figured out how to avoid.