Cigarette Sales Fall BUT Revenues from Higher Cigarette Taxes Increase...

July 17, 2007 - Cigarette Sales Fall BUT Revenues from Higher Cigarette Taxes Increase - a Win-Win Situation. North Carolina's tax on cigarettes went up from 5 cents to 30 cents on September 1, 2005 and then an additional 5 cents to 35 cents on July 1, 2006. Cigarette sales dropped by 18.5% and revenue from the higher tax on cigarettes grew by $157 million in the first full year since the tax went into effect. (Cigarette Sales Falling - 5B, The Associated Press, The News & Observer) North Carolina is the largest tobacco producer in the U.S.A. See related Newsbrief below July 10, 2007.