Parking lot owners make big profits during playoffs - KMOV.com

Parking lot owners make big profits during playoffs

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By Lakisha Jackson By Lakisha Jackson

ST. LOUIS (KMOV) -- Red October means more money for the city, but also major revenue for every parking lot owner close to Busch Stadium. During the playoffs, some lot owners can easily bank around $15,000 in one night. City officials say they don’t regulate how much parking lot owners can charge.

Some lots blocks away from the stadium charge around $20, while the S&H lot located right next to the stadium charges $40. The city also cannot accurately calculate how much these lot owners owe in taxes during the playoffs. This leaves owners on the honor system.

“It's a cash-only business in large part here, yes,” says Darious Chapman from the License Collections Office.

Chapman says lot owners are required to file quarterly gross profit reports. They are then required to pay a 5 percent tax on those profits. The problem is no one closely monitors playoff game profits from lot owners, who make a small fortune.
“Today is a playoff day. We understand they are going to charge more, so they would have to report that on a separate report form,” says Chapman.
 
The city is currently working on creating a new form which the owners would be required to fill out accurately. City officials say the forms should be in place for the World Series, if needed.

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