Smokers: Get Ready To Dish Out More For Your Habit

Happy fiscal new year, Jersey residents. New Jersey’s fiscal year begins today, and with that comes higher taxes for smokers, high-income earners and businesses. Next month, hard alcohol and wine drinkers will pay more. It’s all part of $1 billion in added and higher taxes folded into the $29 billion state budget Gov. Jon Corzine signed into law on Monday. The governor says the extra cash was needed to offset declining revenues during the recession. Here’s a look at the major tax increases: Cigarettes: The state tax on a pack of cigarettes rises today from $2.575 to $2.70, a hike of 12.5 cents. The tax hike on packs of cigarettes is just the latest of many over the last dozen years; it was just 80 cents in 1997. Expected to generate $26 million for the state budget. Read full Statehouse Bureau report here.

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2 COMMENTS

  1. What's pathetic is you probably don't have enough to get by with to begin with, but YOU HAVE TO go and kill yourself with cigarettes!!

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