Monthly Archives: July 2011

New York Expects Big Tobacco Tax Payoff

ALBANY, N.Y. — Gov. Andrew Cuomo’s office expects the state to see an additional $27 million in tax revenue through renewed New York Taxesefforts to enforce New York’s $4.35-per-pack excise tax on cigarettes, including those sold by American Indian tribes on reservations, according to a Legislative Gazette report.

We’re off the cigarettes but still struggling with alcohol and drugs

survey

Californians want to allow local taxes on cigarettes, other products

Nearly 60% of those polled support changing state law to allow voters to approve local taxes on cigarettes, sugary drinks, liquor and tax productsoil pumped from the ground.

Murdoch’s ties to big tobacco

Rupert Murdoch’s phone-hacking problems have been all over the news in recent days, but it wasn’t too long ago his media properties were providing a supportive environment for Big Tobacco that went largely unreported.

Tobacco bonding pros and cons

Tobacco bonding has pros and cons. Securitization allows cash-strapped states to use the tobacco dollars right away, rather than wait for smaller payments spread over a number of years. The flip side is that the interest a state must pay investors who buy the bonds can really add up. In the end, a state may end up with a fraction of the money it otherwise would have received over the long term.

Marketing American Spirit Cigarettes As “Eco Friendly”

WASHINGTON, DC — The Reynolds American tobacco company is once again deceiving consumers by running magazine ads that describe its Natural American Spirit cigarettes as “eco friendly.” This is yet another attempt by a tobacco company to downplay how deadly and addictive cigarettes truly are, this time by marketing a cigarette brand as environmentally friendly. Consumers should not be deceived: There is nothing healthy or environmentally responsible about Natural American Spirit cigarettes or any cigarettes.

Camel Crush Gets Bold

WINSTON-SALEM, N.C. — R.J. Reynolds Tobacco Co. is expanding its Camel Crush line nationally with Camel Crush BoldCamel Crush Bold.

Tobacco bonds in MN budget come at hefty price

MINNEAPOLIS (AP) — The budget deal that ended Minnesota’s government shutdown comes with a hefty price: It relies heavily on borrowing $640 million against money from the state’s 1998 tobacco settlement, but might cost that same amount in interest — plus a substantial annual revenue loss for years to come.

Tobacco price increase offsets New Hampshire tax cut

Some believe promises the state would increase sales by cutting the tobacco tax may turn out to be nothing more than smoke and mirrors.