Friday, June 21, 2024

The New York government’s proposed ban on flavored tobacco / e-cigarettes will hurt small businesses


A study by nyacs found that the proposed spice tobacco ban in the state is bad news for both small businesses and state revenue, vapingpost reported.

It is reported that the New York state legislature has introduced a law to prohibit 21000 licensed and regulated tobacco retailers in the state from selling seasoned tobacco products to consumers, who can verify whether they reach or exceed the minimum legal age of 21. If passed, the measure will be based on a law to be implemented on July 1, 2020, which prohibits the sale of all flavored e-cigarette products throughout the state. Nyacs also banned the sale of all flavored non cigarette tobacco products, including steam products.

According to a press release announcing the completion of the study, nyacs hired regional economic models Inc. to assess the potential impact of banning mint and other spice tobacco products.

Regional economic models estimate that any proposed action to ban spice tobacco products will cost New York state $3.4 billion in taxes over the next decade. For business owners, it will cost them nearly $500 million in sales revenue and at least 1200 jobs in convenience retailing.

Jim Calvin, President of nyacs “As convenience stores try to open their doors to serve local communities, some elected officials want to further weaken the economic viability of these important small businesses, especially when such a ban would reduce taxes by hundreds of millions of dollars a year, because of unemployment and exacerbate the already leading illegal tobacco trade,” Calvin said in a press release

The enterprises and trade unions that joined the NYACS to ban the whole country tobacco flavor ban were: pubs and small business associations, New York gas station and repair shop Association, international truck driver fraternity Local 810, Long Island gasoline Retailers Association, New York newsstand operator Association, Asian American Retailers Association.

“In New York, the smoking rate is at a record low, the age of purchase has been raised to 21, and six new restrictions have been imposed on tobacco retailing in the past seven months,” Calvin added. In view of these trends, there is no justification for more drastic action with harmful financial and economic consequences. “

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