Wednesday, January 13, 2016
Cigarette tax revenue plunges as smokers buy outside New York | New York Post
I would label this a case of elected officials' not understanding the consequences of their actions.
Also, revenue shortfalls are likely paid for by "you know who"...
Also, revenue shortfalls are likely paid for by "you know who"...
In a recent New York Post, John Aidan Byrne shared the story on this:
"New York state cigarette tax collections have plunged by about $400 million over the past five years, according to figures and estimates from the office of New York State Comptroller Thomas DiNapoli. And New York has also lost $1.3 billion in uncollected state cigarette taxes each year from alternative sales, according to a separate study.
The state is taxing far fewer packs, as smokers evade taxed packs, shop across state lines or buy smokes from Native American merchants to avoid punitive NY taxes. A typical pack in New York costs $10.60 or more, including the nation’s highest state excise tax, $4.35."
