Cigarette Tax Revenue Doubles in July, Still Well Short of Expectations



State officials say Illinois' cigarette tax revenue more than doubled in July compared to the same period last year.
 
July revenue reached $30 million, up from $12 million in 2012.

Officials say the increase is from last year's $1-per-pack tax increase, and most of the money from that tax hike hasn't shown up until now because many distributors stocked up on cigarettes when the tax rate was lower. That inventory is just now being replaced.
 
State tax collections fell short of expectations after the tax rose from 98 cents to $1.98 last June. The state expected to bring in about $350 million in tobacco taxes during the last fiscal year, but collected $250 million.

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Locations : Illinois
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