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New York cigarette tax.

Posted: Thu Jan 10, 2013 12:44 pm
by Tommy Tar
http://money.cnn.com/2013/01/10/news/co ... l?iid=Lead

New York has the highest cigarette tax rate of any state, and nearly two-thirds of the state's cigarette market is illegal, announced the think tank Tax Foundation on Thursday.
The Tax Foundation said that 60.9% of cigarettes sold in New York State are smuggled in from other states.


The Tax Foundation said that 60.9% of cigarettes sold in New York State are smuggled in from other states.

This makes New York the biggest importer of black market cigarettes, along with the state's highest tax rate of $4.35 per pack. That's compared to Missouri, the state with the lowest rate, of 17 cents per pack.

In New York City the tax rate is even higher, adding another $1.50 per pack to the state rate. It's not uncommon for smokers to pay $12 for a pack.

The report said that tobacco smuggling and the tax rate have risen practically in tandem since 2006. The New York State tax on cigarettes has risen 190% since that time, as the rate of smuggling increased 170%.

This bears out a report issued last month by the New York Association of Convenience Stores, estimating that "chronic cigarette-tax evasion" deprives the state of at least $1.7 billion in tax revenue and 6,700 jobs. <snip>

That's how it works people. Income, sales, cigarette and gas. Raise the tax too much and you will make less revenue.

Re: New York cigarette tax.

Posted: Thu Jan 10, 2013 1:04 pm
by Red
Typical liberal politicians. Losing MILLIONS to further prove how stupid they are. Personally, I don't give a rip about cigarettes. I hate the smell.