Happy fiscal new year, Jersey residents. New Jersey's fiscal year begins today, and with that comes higher taxes for smokers, high-income earners and businesses. Next month, hard alcohol and wine drinkers will pay more. It's all part of $1 billion in added and higher taxes folded into the $29 billion state budget Gov. Jon Corzine signed into law on Monday. The governor says the extra cash was needed to offset declining revenues during the recession. Here's a look at the major tax increases: Cigarettes: The state tax on a pack of cigarettes rises today from $2.575 to $2.70, a hike of 12.5 cents. The tax hike on packs of cigarettes is just the latest of many over the last dozen years; it was just 80 cents in 1997. Expected to generate $26 million for the state budget. Read full Statehouse Bureau report here.
Wednesday, July 1, 2009
Smokers: Get Ready To Dish Out More For Your Habit
Happy fiscal new year, Jersey residents. New Jersey's fiscal year begins today, and with that comes higher taxes for smokers, high-income earners and businesses. Next month, hard alcohol and wine drinkers will pay more. It's all part of $1 billion in added and higher taxes folded into the $29 billion state budget Gov. Jon Corzine signed into law on Monday. The governor says the extra cash was needed to offset declining revenues during the recession. Here's a look at the major tax increases: Cigarettes: The state tax on a pack of cigarettes rises today from $2.575 to $2.70, a hike of 12.5 cents. The tax hike on packs of cigarettes is just the latest of many over the last dozen years; it was just 80 cents in 1997. Expected to generate $26 million for the state budget. Read full Statehouse Bureau report here.
Subscribe to:
Post Comments (Atom)
2 comments:
its pathetic that this is the state makes money off us
What's pathetic is you probably don't have enough to get by with to begin with, but YOU HAVE TO go and kill yourself with cigarettes!!
Post a Comment