How Much Money Does New York State Tax You For Cigarettes, Alcohol, Weed?
Not too long ago, New York State announced that it is removing taxes on diapers, which is great news for parents of infants and toddlers.
Governor Kathy Hochul made the announcement on July 25, 2022,
I know many parents are anxious about rising prices and making ends meet. To bring relief, I’ve signed legislation to ban all local taxes on diapers so that families have one more way to save some money at a time when every cent counts.
It's great news for families, especially with prices steadily increasing on almost all of the essentials. But don't expect a tax break anytime soon on vice items in New York State.
New York State Has High "Sin" Taxes On Vice Items
If you're a resident, you already know New York State has high taxes on pretty much every and anything, but it especially likes to tax certain 'bad habit' items.
Here's how much New York State charges you for your bad habits:
1. Cigarettes and little cigars - $4.35 per pack and an additional $1.50 a pack in NYC
2. Snuff - $2 per container that is one ounce or less, $2 per ounce for containers over an ounce
3. Cigars - 75% of the wholesale price
SEE ALSO: Green Light for Gigantic Marijuana Facility in Ulster County
4. Vapes - 20% of retail price
5. Beer - 14 cents per gallon and an extra 12 cents in NYC
6. Wine - 30 cents per gallon
7. Liquor - $6.44 per gallon (if it contains more than 24% alcohol by volume) and NYC charges an extra $1 per gallon. If it contains more than 2% but less than 24% alcohol by volume the tax is $2.54 per gallon.
8. Marijuana -
Beginning April 1, 2022, distributors taxed at rate of five-tenths of one cent per milligram of THC for cannabis flower, eight-tenths of one cent per milligram of THC for concentrated cannabis, and three cents per milligram of THC for cannabis edible products; 9% state tax on retail sales; 4% local tax on retail sales may also apply.
SEE ALSO: The Hudson Valley's Newest Casino Opens This Month in Newburgh
9. Gambling -
It’s standard for the company to withhold 25% of your winnings if it has your Social Security number. If you decline to share that information, it may withhold up to 28%.