Posts tagged: Tax

Democrats To Host Own Public Session On Tobacco Tax

Democrats in Boise are trying to light a fire under state revenue. They say raising the tobacco tax in the state from 57 cents to a $1.25 is something the state drastically needs. “It would help on the $50 million in cuts to state education for the third year in a row,” Rep. Elaine Smith, D-Pocatello, said. Democrats are hosting a public information session at 4:30 p.m. Monday, and Smith said republican resistance to having a hearing ... Jump to full article >>

Some fear loss of tax, business revenue if smoking ban is approved

In the battle over the proposed Springfield smoking ban, much of the sparring has centered on the potential costs to businesses, charities and residents. Citing published studies in cities with existing bans, supporters argue smoking restrictions have no overall negative impact on local economies, with nonsmokers replacing any smoking customers who are lost. “The revenue tends to stay flat,” said Clean Air Springfield spokeswoman Car ... Jump to full article >>

Cigarette tax proposals pit anti-smokers against tobacco lobby

SALEM — Anti-smoking lawmakers clashed with Oregon’s top tobacco lobbyist Thursday over proposals to raise cigarette taxes by as much as $2 a pack. Supporters, including Rep. Mitch Greenlick, D-Portland, a former health researcher, said the proposed increases are less about raising more money for the state than getting people to quit the habit, or not start. R.J. Reynolds lobbyist Mark Nelson and the head of Plaid Pantry attacked the ... Jump to full article >>

Cough, sputter, splat: It’s tobacco tax time!

Rep. Allan Ritter, R-Nederland, is a well-known “chaw-er” and dipper in the Legislature. Last session, he was not too happy when colleagues raised taxes on smokeless tobacco products. On Monday, Ritter vented to fellow members of the tax-writing House Ways and Means Committee. It seems the 2009 law — designed to make the generic brands of snuff pay on weight, not price — had the unintended effect of nearly quadrupling th ... Jump to full article >>

New laws likely to drive cigarettes prices further

Two bills on tobacco tax valuation to be considered by the cabinet tomorrow will push up retail prices of cigarettes, according to Pongpanu Svetarundra, director-general of the Excise Department of the Finance Ministry. Mr Pongpanu said one bill would call for taxes to be calculated from the retail prices of cigarettes instead of the ex-factory prices of the state enterprise Thailand Tobacco Monopoly for local cigarettes and the CIF (cost, insur ... Jump to full article >>

A tobacco tax increase for better health

State Rep. Jennifer Weiss and Sen. William Purcell have introduced legislation that would address one of the nation’s largest public health issues: tobacco use. Tobacco-related illness remains the No. 1 preventable cause of death in the United States, claiming more than 440,000 American lives a year. The American Cancer Society, the American Heart Association and the American Lung Association in North Carolina applaud these legislators and ... Jump to full article >>

Strategies To Exploit Uncertainty in Tobacco

Credit and equity investments to play amid scrutiny of the menthol category. After taking control of tobacco regulation in 2009, the U.S. Food and Drug Administration (FDA) is investigating the use of menthol in cigarettes. Its tobacco panel, the Tobacco Products Scientific Advisory Committee (TPSAC) is due to report its findings by March 23, 2011, and the FDA will issue a binding ruling after that. We envision three ultimate outcomes: menthol i ... Jump to full article >>

Phuket raid nets Bt100k in smoking contraband

PHUKET: Officials from the Phuket Excise Office yesterday seized 956 packs of illegally imported cigarettes and packs of tobacco with a total street value of about 100,000 baht. Most of the contraband was imported by post, said Excise officer Chingchai Borwornthanasan. Three people were arrested in the raid: Yusaree Yun from Pattani, and Ussamarn Wangdee and Je-padeemoh Yun, both Phuket natives. The cigarettes and tobacco seized were expensive b ... Jump to full article >>

Budget ideas get creative

If Washington’s budget problems get too terrible to solve, can’t the state borrow money? Or could it issue bonds against future Lottery earnings or future tobacco-lawsuit payments to the state? Why not sell off state assets such as land? Or just leave the state budget unbalanced for a year or so – until the economy gets better and money is flowing again? Gov. Chris Gregoire has suggested selling some state surplus lands, but she and her bu ... Jump to full article >>

Profits from seized cigarettes up in smoke

Customs and border protection staff in Brisbane have seized more than 2.5 million illegally imported cigarettes. They were found in a shipping container from Hong Kong earmarked to contain bubble wrap and lunch boxes. Under the Customs Act the penalty for smuggling and evading duty is five times the amount of tax evaded and a possible 10-year jail sentence. Home Affairs Minister Brendan O’Connor says the seizure of that many counterfeit ci ... Jump to full article >>