Nat Sherman Townhouse lowers prices in response to new OTP tax code.
To our loyal Nat Sherman Townhouse customers,
Since August 1, 2010, we have had the unfortunate obligation to pay an OTP (other tobacco products) tax of 75% to New York State. As a result, this incredibly high tax rate increased the price of cigars in our store. Thankfully, there has been an adjustment to the New York State Tobacco tax code which offers long over-due relief to consumers and retailers. Effective today, we are very proud to offer reduced pricing on all premium cigars in our humidor at the Nat Sherman Townhouse, to reflect this new tax rate.
The official memo from the New York State Department of Taxation and Finance can be found here. This adjustment brings the new New York OTP tax to an effective rate of about 28.5%... making New York State a GREAT place to purchase premium cigars!
We thank you for your loyalty and support, and we couldn't be happier to pass along this savings to you. We look forward to seeing you on your next visit to our Flagship Townhouse store, and charging you less for your favorite premium cigar!
The Nat Sherman Townhouse Team.