News: Cigar Tax Change Dropped from New York Budget Negotiations

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A deal between lawmakers and Gov. Andrew Cuomo surrounding the New York State budget is in place without any changes in cigar taxes. A few months ago, Cuomo proposed a change in how New York collects taxes on premium cigars that would haven seen a 50% tax on the retail price with the distributor paying a flat $.20 per cigar and New York retailers making up the balance. This move would have been a departure from the 75% wholesale tax that is currently collected, a rate that was last increased in the summer of 2010.

As reported by CPSnet, the proposed change was removed meaning that premium cigar taxes will remain the same in New York. For cigar smokers, this can been seen as a win, as the change would have resulted in an increase in price. As of now, the budget still has not been signed, although an agreement is in place. The budget is expected to be passed before the April 1 deadline.

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Charlie Minato
About the author

I am an editor and co-founder of halfwheel.com/Rueda Media, LLC. I previously co-founded and published TheCigarFeed, one of the two predecessors of halfwheel. I handle the editing of our written content, the majority of the technical aspects of the site and work with the rest of our staff on content management, business development and more. I’ve lived in most corners of the country and now entering my second stint in Dallas, Texas. I enjoy boxing, headphones, the Le Mans 24-hour, wearing sweatshirts year-round and gyros. echte liebe.

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