JACKSON, Miss. (AP) - Revenue from Mississippi's recent
cigarette tax increase is meeting expectations for the most part.
State Tax Commission data shows Mississippi has collected $36.8
million from the 50-cent cigarette tax increase that went into
effect in May.
The state collected $4.7 million less than expected from raising
taxes on stamped cigarettes waiting to be sold when the tax hike
took effect.
But tax collections on cigarette stamps in July, the first month
of the current fiscal year, totaled $9.2 million, which was fairly
close to expectations.
The tax hike from 18 to 68 cents per pack is expected to
generate nearly $113 million this fiscal year.
BusinessBusiness
Cigarette Tax Hike Raises $36.8M
Revenue from Mississippi's recent cigarette tax increase is meeting expectations for the most part.
By:
|
WKRG-TV
Published: August 16, 2009
Published: August 16, 2009
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