New revenues from cigarette and corporate income tax have been pinned as potential funding sources for the new Vikings stadium.
Commissioner of revenue Myron Frans told the Tax Conference Committee on Thursday that $24.5 million in one-time revenue could be generated from current cigarette inventories once the cigarette tax is increased. Gov. Mark Dayton is backing a per-pack increase from $1.23 to $2.52.
Frans proposed closing a corporate tax loophole to bring in $20 million a year in backup revenue -- he said some businesses are able to avoid taxation by attributing Minn. sales to links in other states.
Originally, a plan to place electronic pulltabs in bars were projected to collect most of the state's $348 million share of the nearly $1 billion stadium. However, the estimated $225 per day per machine fell far short.
Currently, there are 961 of the e-gaming devices in 196 venues in Minnesota, while 15,400 were projected to be planted in 2,500 establishments. The daily sales in March tallied just $87 per machine.