Light Rain 45°
Tag:

Tax Revenue

News
3K Foreign Contraband Cigarettes Seized, Destroyed By USPS In CT, Other States: Officials 3K Foreign Contraband Cigarettes Seized, Destroyed By USPS In CT, Other States: Officials
3K Foreign Contraband Cigarettes Seized, Destroyed By USPS In CT, Other States: Officials Around 3,000 packages of foreign contraband cigarettes bound for Connecticut, New York, and other states have been found and destroyed by the US Postal Service since the beginning of the year, officials said.  According to Connecticut Attorney General William Tong, the seizures were a result of a settlement between the USPS and several states in August 2022 that forced the Postal Service to destroy untaxed foreign cigarettes instead of returning the illegally-mailed packages back to the sender.  Of the 3,000 cigarette packages destroyed since the beginning of 2023, 44 had bee…

SHARE

by Ben Crnic
Business
Recreational Marijuana Could Raise $1 Billion For Connecticut Recreational Marijuana Could Raise $1 Billion For Connecticut
Recreational Marijuana Could Raise $1 Billion For Connecticut Connecticut could collect nearly $1 billion in taxes over five years if the state were to legalize recreational marijuana, according to a new University of Connecticut report. A study by UConn’s Center for Economic Analysis estimated that in five years of recreational sales Connecticut could collect anywhere from $784 million to $952 million in new taxes, according to the Hartford Courant. Since the COVID-19-fueled recession has hit the U.S., many states are looking at new ways to raise tax revenue. Lead study author Fred Carstensen said that in addition to raising taxes, welcoming the re…

SHARE

by Kristin Palpini