Summertime… And the Taxes Are High

Yesterday was June 1, and all the new laws comprising the state budget went into effect, including several new taxes. After all, what better way to relieve a recession than by raising the cost of living and discouraging spending?

The state raised its share of the cigarette tax to $2.75 from $1.50. Combined with the city’s $1.50 a pack, these taxes are now $4.25 or 50% of the $8.50 average cost for a pack of smokes. But — all together now — it’s for you own good.

This week also marks the beginning of sales tax on purchases at and certain other online retailers. Overstock is pulling a virtual Atlas Shrugged and just dumping their New York affiliates, which constitute the retailers’ supposed “physical presence” in the state and thus the basis for charging a sales tax.

Personally, I suspect our legislators just hate readers.

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