Study shows how taxes could pay for new Vikings stadium


A study released by the Minnesota Revenue Department details how taxes on sports memorabilia can cover nearly two-thirds of the state's annual contribution for the new Vikings stadium.
According to the Star Tribune, the study shows that a 10 percent tax on all wholesale sports memorabilia, not just the NFL but anything sold in Minnesota and licensed by any pro sports team or league, could generate $17.6 million of the state's $30 million annual contribution.
The study released shows how several other taxes in addition to the sports memorabilia tax can generate money over the next four years, WCCO reports.
According to the Star Tribune, $7.8 million will also come from a 5 percent surcharge on any Vikings player or employee that makes over $250,000 a year and income that opponents make while playing in the new stadium.
The new taxes also include a 6.5 percent tax on both satellite TV DVR and luxury suite box rentals as well as $2.1 million from a Vikings themed lottery game, WCCO reports.
The estimated cost of the new stadium is between $700 million and $900 million and will be split between the state, Vikings and a still undecided local government partner, The Star Tribune reports.