Tax Reform Could Make Movie Tickets Even More Expensive
CHAPEL HILL – We already pay what seems like a fortune for movie tickets these days, but as part of the tax reform in North Carolina, we soon could be paying even more.
State and local sales taxes are replacing the privilege taxes already included in ticket prices. For a $10 movie ticket, state and local governments would get about 65 cents in sales tax, WRAL reports. This could trigger cinema owners to raise ticket prices to offset that cost.
Russ Nunely, a rep for Regal Cinemas, says he’s concerned for how this will impact theatres like the Timberlyne 6 in Chapel Hill.
“Our families, other movie-goers who come out to the movies are going to be impacted by this. Not only for people who come to movies, but the nearby businesses,” he says.
Nunely says the tax change could have a negatively impact in more ways than one.
“Movie going really has a multiplier impact on the economy. Other nearby restaurants and business rely on our foot traffic to make their businesses run also,” he says.
The measure goes place next year and will likely increase ticket prices for live concerts, plays, and sporting events as well.