INDIO (CBS) — A concert promoter is threatening to move the wildly popular Coachella music festival over a proposed tax that appears aimed squarely at its music events.

Goldenvoice president Paul Tollett said the 2013 Coachella and Stagecoach music festivals could be the last in Indio if the city enacts a 5 percent to 10 percent admissions tax to entertainment events of more than 2,500 people, according to the Desert Sun.

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The proposed tax would amount to about $36 per ticket, which Tollett said he would not pass on to festival-goers, so the initiative would cost Goldenvoice $4 million to $6 million, the Sun reported.

The city of Indio recently cut roughly $4 million from its current budget through measures including layoffs and furloughs.

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Tollett estimates the festival generates more than $800,000 in ticket fees, tax revenue on about $9 million in food and beverages sold and a Transient Occupancy Tax of more than $800,000, according to the Sun.

Coachella and the Stagecoach country music festival each take place at the Empire Polo Fields in Indio. Tickets to both festivals sell out, often within hours in the case of Coachella.

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If the tax is enacted, Goldenvoice said they the 2013 dates – April 12-14 and April 19-21 – will continue on as planned, but both festivals will take a break in 2014 so they can find a new venue for 2015.