Tuesday, October 21, 2014
Davidoff Year of the Sheep Coming to Las Vegas
Monday, October 20, 2014
Swisher International Acquiring Drew Estate
Friday, October 17, 2014
Limited Alec Bradley Fine & Rare Ships
Thursday, October 16, 2014
Ashton Symmetry Cigars In Warehouse, Shipping Next Week
Monday, October 13, 2014
Padrón Looks Back at 50
- More from News & Features
New York Governor Proposes Cigar Tax Hike
Posted: December 18, 2008
Facing a projected $12.5 billion budget shortfall, New York Gov. David Paterson offered a $121.1 billion dollar spending plan Tuesday that proposes many new taxes, includes raising the state cigar tax.
If the proposed budget were to be approved, New York cigar smokers would be forced to pay 50 cents per cigar. The current tax is about 34 cents.
The tax increase is predicted to create $10 million in new revenue for the state.
Paterson's budget also proposes, among other things, a tax rate increase on soda, movie and sporting event tickets, beer and wine, as well as downloaded music.
The plan would also cut roughly $9 billion in spending, with projected spending cuts in health care, as well as an actual cut in education.
You must be logged in to post a comment.