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$1-A-Pack Hike Brings In More Than Expected
Jump to full article: Hartford (CT) Courant, 2010-09-06
Author: JESSE LEAVENWORTH
Intro: The state has collected more money than expected from the $1-a-pack tax hike on cigarettes that started in October. At the same time, Connecticut merchants are selling fewer cigarettes.
The state Office of Policy and Management predicted that the tax would raise an additional $99.3 million in the 2009-10 fiscal year. Actual revenue exceeded that prediction by $5 million, agency spokesman Jeffrey R. Beckham said. Total revenue in that fiscal year from state cigarette taxes -- now $3 a pack -- was about $380 million, Beckham said.
The OPM also had predicted that if no tax increase had been imposed, merchants would sell about 115 million packs between Oct. 1, 2009, and June 30, 2010. The actual number of packs sold in that period was about 108 million, Beckham said.
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