Strip Clubs Enjoy Tax Breaks You Wish You Would

The Penthouse Executive Club on the West Side saved $37,000 in taxes in 2010 alone

Friday, Nov 12, 2010  |  Updated 10:37 PM EDT
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Strip Clubs Enjoy Tax Breaks You Wish You Would

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Strip clubs are screwing tax payers in more ways than one.

Some New York City strip clubs are shedding tax burdens faster than g-strings, according a news report.

The Penthouse Executive Club on the West Side saved $37,000 in taxes this year, the Daily News' Juan Gonzalez reported today.

But the jiggle joint on W. 45th Street is not alone in enjoying this tax break under the Industrial and Commercial Incentive Program.  The program was created to keep businesses in the city by giving them tax breaks for new construction and renovations. 

Starlets Gentlemen's Club in Astoria has the tax exemption, pocketing more than $10 grand in taxes this year alone, the News reported.  The Hunts Point Triangle in the Bronx has enjoyed this tax exemption since 2001, saving $12 grand this year -- money that could be going to paying teachers and cops and repairing city infrastructure, according to Gonzalez.

The Industrial and Commercial Incentive Program was created to convince businesses to stay in the city by giving them tax breaks for new construction and renovations.  But, Gonzalez reports, the program morphed as all sorts of businesses try to snag the 25-year tax deduction.

Tax exemptions have grown during the eight years Mayor Bloomberg has been in office, up from 20 percent of all private property in 2002 to 25 percent of property this year, the News reported.

"We are looking into this situation," Department of Finance spokesman Owen Stone told the News.

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