Down to the Wire: Connecticut to Vote on 75% Vape Tax Posted on 13 Sep 15:51 , 0 comments
It's nothing new, high taxes are being imposed more and more on vape products across the United States and now all shops in Connecticut are facing extinction. As part of his revised budget plan Gov. Dannel Malloy has proposed a 75% wholesale tax on all vapor products. The pressure is real, the state has been operating without a budget for two months.
The tax would take effect Jan. 1, 2018, Gov. Malloy claims this will produce $4.3 million in revenue next year and $8.5 million in 2019. While this may seem like a no brainer to the states General Assembly, this tax would force countless vape shops in the state to close and customers to order products online or travel out of state to avoid the price hikes. Closed businesses produce no revenue.
Taxes like the one proposed by Gov. Malloy are counterproductive and leaves small businesses out in the cold. Luckily it's not too late to voice your opinion, visit this link and make your voice heard.