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Thursday, oct 31
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Tax Revenue
News
3K Foreign Contraband Cigarettes Seized, Destroyed By USPS In NY, 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…
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New York State Collects $542M In Mobile Sports Betting Tax Revenue In Less Than 10 Months
New York State has collected more than half a billion dollars in mobile sports betting tax revenue since it became available in the state in January. As of the week that ended on Sunday, Oct. 30, the State collected $542 million in taxes, surpassing all other states across the country, Gov. Kathy Hochul announced on Wednesday, Nov. 9. Hochul said the State also collected an addition $200 million in licensing fees, generating more than $740 million in revenue, which is mainly set to be used for education. "By bringing sports wagering to New York, we have not only opened the door to responsi…