Wednesday, November 26, 2014
Drew Estate Launches Pappy Van Winkle Cigars for Whiskey Pairing
Tuesday, November 25, 2014
Padrón Humidors Get New Price, Refill Option
Monday, November 24, 2014
A.J. Fernandez to Unveil New World Connecticut at Cigar Inn
Wednesday, November 19, 2014
Gurkha Redesigns Pedro Martín Brand
Tuesday, November 18, 2014
New Davidoff to Retail for $500
- More from News & Features
New York Rejects Cigar Tax Cap
Posted: April 4, 2011
After much debate, New York State lawmakers finally passed a $132.5 billion budget last week, but not before throwing out a tax proposal that sought to give some relief to burdened tobacconists by capping the excise taxes on a single cigar to a dollar.
The $1 tax cap was included in the Senate version of the budget, but failed to garner support in the state Assembly.
The lobbying effort for the tax cap was heavy, with the Cigar Rights of America, the International Premium Cigars & Pipe Retailers, the Cigar Association of America and the state-level retailer association all involved.
These organizations had fought to provide some relief for the states' tobacconists who have had to shoulder one of the highest taxes on cigars in the United States—75 percent of the wholesale cost of a cigar—since it was raised last year.
Cigars are typically sold for twice the wholesale price. This means that a cigar with a $6 suggested retail price has a wholesale price of $3, and thus carries a state tax of $2.25 in New York.
Comments 3 comment(s)
Christian A — April 5, 2011 11:32am ET
stantine972 — April 5, 2011 12:04pm ET
Paul Byrne — Toronto, Ontario, Canada, — April 5, 2011 6:28pm ET
You must be logged in to post a comment.