Posts Tagged ‘Taxing and Banning’

$5.85 Per Pack NYC Cigarette Tax, Creates 60% Black Market Cigarettes, T&B Is Good For Business

January 27, 2013

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. This makes New York the biggest importer of black market cigarettes, along with the state’s highest tax rate of $4.35 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 $14.50 for a pack of cigarettes.

Taxing and banning is good for business..