Tax Break for Atlantic City Performers Moves Forward

A bill that aims to bring big-named performers to Atlantic City by offering them a tax break cleared a legislative panel yesterday.

According to NJ.com,

"A-list performing artists" who hold to at least four shows in Atlantic City's tourism district would not have to pay state income taxes on earnings from those performances or any others in New Jersey during the same calendar year if the bill (S2721) wins final approval. Lawmakers backing the legislation said it would provide a economic boost to struggling Atlantic City, pointing to the economic impact of extended residencies by artists like Britney Spears have had in Las Vegas.

New Jersey politicians are claiming that the popularity of the beach concerts over the last few years prove that Atlantic City can be a major player in the performance industry.

And it wouldn't just be for musical acts, NJ.com says,

Top artists, including musicians, singers, dancers, actors, comics, athletic and sports competitors, would be exempt from paying taxes on income earned from live performances in New Jersey, as long as they play at least four dates in Atlantic City, if the bill is passed.  That would include income earned from performances in venues in Camden, Trenton, Newark and Holmdel.

What do you think?  Would this help Atlantic City?  Comment below!