Thursday, January 17, 2013

Kentucky to Raise Cigarette Tax

A proposal to raise the cigarette tax 40 cents per package and raise taxes on all other smoking products acquired support a few days ago from Government representative. It was one of diverse changes to sakes tax code advised by the commission, which has a deadline till December 2012 to draft a proposal for lawmakers that would make Kentucky’s state tax more competitive.

The commission approved a proposal that would boost Kentucky’s tobacco tax from 60 cents to $1.00 per package and boost the taxes on all other tobacco products. The members of tax commission considered the tax increase as a way to discourage youngsters from smoking and lift revenue.

Several members lobbied for a $1.00 per pack boost. “In case you raised it by $1, you will drop smoking rate among youngsters by 15%. You will save thousands of dollars in health care costs,” stated Sheila Schuster, an executive director of the Advocacy Action Network.