NY Legislators pass Increase in OTP tax
Despite the tireless efforts of the New York Tobacconists Association, New York State Legislators foolishly and irresponsilbly passed an emergency "extender bill" on June 21, 2010 that raises the OTP (Other Tobacco Tax) from its current 46% of wholesale to 75% of wholesale. Just over a year ago, the same tax was raised from 37% at the time to the current 46%. Although it was clearly outlined to the State Legislators that this tax is not only revenue negative but would be devastating to the countless small businesses throughout New York State, they decided to turn their back on New Yorkers and push the tax through anyway. It should be noted that taxes are collected in the state in which the consumer takes ownership of the goods. TO OUR LOYAL CUSTOMERS outside of NY State, this type of ridiculous over-taxation can no doubt mislead other State Leaders into thinking this is actually a good idea, so please be sure you are following the budget discussions in your state. If y