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      Government Gets Hooked on Tobacco Tax Billions

      Posted by Jeff from New York Times

      But taxes are not the only government revenue from cigarettes. Settlements in the late 1990s to end state lawsuits against tobacco companies mean that the cigarette industry is paying states nearly $250 billion over 25 years. Under the agreement, those payments to states will continue flowing even beyond 25 years as long as the tobacco industry is healthy. But the payments would phase out as cigarette company profits decline and would ultimately disappear if people stop smoking.

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      Big win for tobacco in $145 billion Florida case

      Posted by Billbar from Reuters

      In a huge victory for the tobacco industry, the Florida Supreme Court on Thursday refused to reinstate a $145 billion punitive damages award against major cigarette makers found liable for selling a dangerous product. The ruling cleared one of the hurdles for Altria Group Inc.'s plan to spin off Kraft Foods Inc..

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    Jon comments on:

    State sends a message, smoker gets $8,000 bill

    Techincally, avoiding use taxes by buying online is tax evasion. The law is pretty clear. I wouldn’t be that disappointed if they start enforcing it.

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    1:53 pm 2/17/07
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    Jeff

    Member since Sep 2008

    Jeff is the founder of NewsCloud. He is also a freelance writer and blogs at Idealog.

    Seattle


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