October 17, 2005
Colts tax coming up short
Money from Indiana's new restaurant tax surcharge to fund an Indianapolis Colts stadium is starting to flow into state coffers - and there doesn't appear to be enough of it. The first month's collection was $164,376, about half of what was anticipated, and a pace that would leave the project with a $1.5 million a year shortfall. State officials say that businesses neglecting to pay the new tax may be the problem, but as we've seen before, funding projects with projected tax revenues that then fall short can be a real problem.
Posted by Neil deMause
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