This one had me rolling on the floor. The Tulsa Word reports: The prices of some name-brand smokes have risen ahead of the federal tax increase. Tobacco products to go up April 1.
"For tobacco users, smokers who roll their own will take the hardest hit. The tax on that type of tobacco will skyrocket more than 20-fold, from about $1.10 per pound to $24.78 per pound.
Taxes on cigarette papers and tubes are also going up — from 1 cent per 50 for papers to 3 cents, and from 2 cents per 50 for tubes to 6 cents.
Industry sources say the increases will virtually eliminate the financial advantage of rolling cigarettes instead of buying manufactured smokes."
MORE TAX ON TOBACCO
Current tax Tax as of April 1 Cigarettes
$0.39/pack $1.01/pack Small cigars
$1.83/1,000 $50.33/1,000 Large cigars
20.8% of price 52.8% of price Chewing tobacco
$0.20/pound $0.50/pound Snuff
56 cents/pound $1.51/pound Pipe tobacco
$1.10/pound $2.83/pound Roll-your-own
$1.10/pound $24.78/pound Cigarette papers
$0.01/50 $0.03/50 Cigarette tubes
$0.02/50 $0.06/50
|