Want to Pay $10 in Tax on Your Next Cigar?
Tuesday July 17, 2007
No, the headline is not a joke, it is an actual proposal from our U.S. Senate Finance Committee. To fund an expansion of the State Children’s Health Insurance Program, the federal excise tax on cigars could be raised from $.05 per cigar to a maximum of $10 per cigar. If the proposal is adopted, the new tax rate on large cigars will be 53.13% of the selling price, which is a monumental increase from the current five cents per cigar. When you do the math, the tax on a cigar costing $18.82 or more would be $10. The tax on a modestly priced $5 cigar would be $2.66.The full Senate may consider the measure as soon as next week, so the time to act is now! Unless you want to pay a substantial amount more for your next cigar, contact the U.S. Senators for your State today, and voice your opposition to the proposed SCHIP legislation. Or better yet, put it on video.
Cigar Tax Update: August 4, 2007
Comments
non cuban / american market cigars are actually dirt cheap compared to Europes offering and obviously Cubans so i have mine sent to to the UK.
However, it sounds like although not definate that the US cigar smoker will be screwed like the rest of us in the rest of the world.
YOU have my sympathies.