Altria Group Inc (MO)

[EZ2]

LOL ~~ yeah, it's real good news....LMAO !!! Wonder what all 50 states will do when they can NO LONGER balance their state budget deficits on the back of SAG / state tax coffers from tobacco !?!?!? Duh.....' most are head in the sand ' when it comes to KILLING the GOLDEN GOOSE !! Hilarious !!!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Cigarette Sales Drop, Tax Revenue Up
Monday July 16, 1:49 pm ET
Cigarette Sales Drop, but More Revenue From Higher Tax in N.C.


RALEIGH, N.C. (AP) -- Fewer cigarettes have been sold in North Carolina since the state raised its tax on smokes, but revenue from the higher tax grew by $157 million, state officials said Monday.
Cigarette sales dropped by 18.5 percent as tax revenue increased in the first full year since the tax went up in September 2005, according to data from the state Division of Public Health and the Department of Revenue.

"This is good news for everyone," state health director Leah Devlin said. "This means fewer North Carolinians and their families will face illness, disability and early death. The increased tax has improved the health of both the state's people and its coffers."

North Carolina's tax on cigarettes went from five cents to 30 cents on Sept. 1, 2005. It went up an additional five cents, to 35 cents total, on July 1, 2006.

The full-year data released Monday amplifies figures the state released last fall, after the first 10 months of the higher rate. In November, officials noted sales were down 18 percent while cigarette tax revenues were up by more than $110 million.

Graham Boyd, executive director of the Tobacco Growers Association of North Carolina, said the increased revenue may look good, but may not reflect the full economic impact of depressed sales.

Boyd pointed to last month's announcement by Philip Morris USA that it will close its massive cigarette factory in Concord, a move that will cost the area 2,500 jobs.

"When you read the news about processing factories in Cabarrus County closing, with high wage, high skill jobs, how do you measure that?" he said. "You may be gaining more in per pack tax revenue, but the net effect may not be $157 million."