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Cigarette manufacturers confirm the price increase

Cigarette prices are rising again, with the three largest tobacco manufacturers and expressed confidence that the next increase will not deter smokers in a sluggish economy. R.J. Reynolds Tobacco Co., Lorillard Inc. and Philip Morris USA confirmed on Friday that prices for most of its brands are growing. The increase will come into effect on Monday for Philip Morris and Reynolds t. Reynolds and Lorillard are raising the price list at 6 cents per pack, or 60 cents for a box. Although the list price is focused on wholesale and direct-buying customers, such as a rule, increases on to consumers. Meanwhile, Philip Morris is reducing their national invoices promotional discounts on bulk purchases and direct clients on all Marlboro and L & M styles to 6 cents per pack, effectively raising the price … Read entire article »

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Big Tobacco Beats Small tobacco Tax Rate

Small cigarette manufacturers would face new fees on the state of their sales under the measure, which passed the Texas House of early voting on Monday – a big win for Big Tobacco. The nation’s largest tobacco companies are now paying more than half a billion dollars to the state every year as part of a 1998 lawsuit settlement. They have for years advocated smaller cigarette manufacturers who were not included in the $ 17 billion settlement, faced with similar financial penalty. State Rep. John Otto House Bill 3536 would charge these small companies 2.75 cents per cigarette (or 0.09 ounces of tobacco) are sold, used, consumed or distributed in Texas in 2013. The controller will calculate the rate in subsequent years. “They all sell the same product,” Otto said. “They’re all going … Read entire article »

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The plan would hike income legislator’s gas, tobacco taxes

After several weeks of discussion, leadership legislature released its own plan for fixing the transportation system in Massachusetts’ – $ 500 million package of higher taxes on gasoline and tobacco, which is far below the Governor Deval Patrick calls for $ 1.9 billion in tax increases for transportation and education. “We need to invest, but we need to invest in a way that does not bankrupt the current generation,” Senate President Therese Murray, D-Plymouth, said at a Statehouse news conference Tuesday. The plan, put together Murray, House Speaker Robert DeLeo and chairs the budget committee, will cause the current gasoline tax 21 cents to 3 cents a gallon and increase the tobacco tax $ 1 per pack to $ 3.51. The proposal also highlights auto sales-tax revenue to transportation projects, allows tax software … Read entire article »

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Philip Morris Provides fifth consecutive dividend hike

Last week was characterized by a very slow increase in the activity of dividends. However, it was not bad if you were a shareholder of Philip Morris (NYSE: PM), which manufactures and sells cigarettes and other tobacco products. The company raised its quarterly dividend by 10.40% to 85 cents a share. It was the fifth annual dividend increase for this global tobacco conglomerate. Check out my recent analysis of the shares. The average annual growth of dividends over the past five years was 13.20%. In addition, the company is pursuing an aggressively to buy back shares. The number of shares was reduced from 2.062 billion in 2008 to 1.701 billion in 2012. Back in June 2012, the company announced a three-year program to buy back shares worth $ 18 billion. Based on … Read entire article »

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Missouri tax on cigarettes

Missouri’s November ballot will ask voters to decide whether to increase tobacco and cigarette taxes and whether to allow St. Louis to administer its police department instead of a state commission. The separate each petition received enough signatures to qualify for the fall election, the Secretary of State office said Tuesday. But elections officials signed two others – raising the minimum wage and wage restrictions and other short-term loans – fell short. Proponents of such measures said Tuesday that they plan to file a lawsuit to get the initiative before voters in November. Under the vote on the tobacco tax, a tax of Missouri for each pack of cigarettes will increase by 73 cents to additional funds managed by education and smoking prevention and cessation. Taxes on other tobacco products will also … Read entire article »

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CA voters are divided on the subject of Big Tobacco Tax

Voters in California, Tua’s initiative to raise tobacco taxes lost early in the morning on Wednesday, but his voice was still too close to call, because hundreds of thousands of ballots may remain unaccounted for. esday decide whether to approve the California tobacco tax, which was the target of multimillion-dollar opposition campaign. The day after Election Day, Proposition 29 lost just over 1 percent, or about 64,000 votes out of more than 3.8 million counted. However, even with all the reporting stations, there are usually a lot of late-arriving ballots early and absentee ballots are counted after the election. These bulletins are usually up to 20 percent of the vote, that is, potentially hundreds of thousands of votes still be counted statewide. It could be days or more before the winner is declared. Cycling … Read entire article »

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Tobacco tax takes slim lead

Voters passed the tobacco tax, Proposition 29, by a small margin in the first results released tonight at the office of California Secretary of State. Meanwhile, the vote to change the terms of office appeared on the way to an easy victory, as Proposition 28, led by two to one. 12 percent of the vote, 51.4 percent voted in favor of the proposal 29, and 48.6 per cent voted against the ballot measure that would increase tobacco taxes by $ 1 per pack, on top of 87-percent tax already in place. Yes side has 1096176 votes than no votes 1038318 side, with 21,993 in 2634 to the walls of the statements. Of Northern California, including Santa Clara, Contra Costa, and San Mateo, yes votes carried, and Los Angeles was siding against the measure vote … Read entire article »

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Big Tobacco lights its anti-tax effort in California

Tobacco is different. In the coming weeks, Californians once again witness the terrible power of the industry. Cigarette manufacturers Altria and RJ Reynolds will spend tens of millions of dollars, why the proposal 29, the last attempt to fight against smokers, raising taxes on tobacco products, it is a terrible idea. In the television spot announcements, shills will explain how $ 735 million to be raised at least annually to be spent on the establishment and operation of a bloated bureaucracy. Industry is likely to succeed. It usually does. Usually, I agree with the arguments against the initiative. Proposition 29 on June 5 ballot has its own problems. But my decision is easy at any time I have to choose between tobacco companies and cancer researchers, physicians who treat cancer and health experts … Read entire article »

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NYACS helps block the state hiking taxes on tobacco

The New York Association of convenience stores (NYACS) announced yesterday that she was able to stop the New York State from further tax increases on tobacco, and thus “in pursuit of more customers,” a member of the NYACS retailers. The new state budget for 2012-13 that will be taken this week, Governor Cuomo and the legislature agreed to remove the tax changes on cigars and tobacco are freely offered to the governor two months ago. NYACS fought these tax increases, arguing that when tobacco taxes rise in New York, head of tobacco consumers in the coming Indian Reservation, at the border or a bootlegger, not to pay a high tax – the cost of business and stores the value of the state income tax. Governor Cuomo’s proposed tax cigars at 50% off the … Read entire article »

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State could get unexpected $46 million from tobacco tax

An unexpected payoff for state government comes with the Affordable Care Act – about $46 million a year in tobacco tax money with no home. Known as “Obamacare” to its opponents, the federal health care law is designed to make sure nearly all Americans have health insurance, either through Medicare, Medicaid, employer-sponsored plans or individual plans purchased with government subsidies. Assuming it survives a U.S. Supreme Court challenge that is set for oral arguments this week and the national elections of November, the law takes full effect Jan. 1, 2014. That’s the day the law says just about everyone should have health insurance and the day that a big part of Oklahoma’s tobacco tax becomes homeless. When state voters approved a net 55-cent-per-pack increase in the cigarette tax in 2008, they dedicated … Read entire article »

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Tobacco companies spend about $ 15 million against tax proposals – so far

Proposed $ 1 per pack increase in state taxes on cigarettes has caused the largest tobacco companies in the country, four of its affiliated companies and others to lose $ 14,765,383 in the campaign to defeat the measure. Supporters of Proposition 29, by contrast, spent $ 3,752,217, or about one quarter more, according to the nonpartisan reported Thursday MapLight, a research organization that reports the influence of money on politics. Altria and Reynolds American Inc, Santa Fe Natural plus Reynolds Tobacco Company and the American Snuff Company, and Altria in the U.S. Smokeless Tobacco Co. and John Middleton are the heavyweights in the fight against the parties. They are joined by Prometheus International, Inc, Santa Barbara, cigars and tobacco, and tinder Box Costa Mesa. Supporting measures are the Lance Armstrong Foundation, which, with … Read entire article »

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Cheap brands drive tax

The work of a big blow reduced the country’s economy, Philip Morris, Pakistan, the international company that promotes billion rupees of tax revenue a year, decided to close its manufacturing facility Mantra, News has learnt.Philip Morris producer of Chesterfield cigarettes and Marlboro Red cigarettes. Unable to compete with tax evasion of cigarette manufacturers who not only sell more than 14 billion cigarettes each year in Pakistan, as well as expanding its production capacity, it seems impossible for Philip Morris of Pakistan to continue its activities in Pakistan, Ministry of Industry sources said. Philip Morris, Pakistan (PMP), when contacted confirmed that the said heavy tax burden and high cost led to its decision to close the plant. With high taxes is not possible for the PMP continue to compete with those brands that … Read entire article »

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