Excise Taxes

MarketWatch  Oct 19  Comment 
Philip Morris Inc. shares fell 4% in premarket trade Thursday, after the cigarette distributor missed profit and revenue estimates for the third quarter. The company said it had net income of $1.97 billion, or $1.27 a share, in the third quarter,...
MarketWatch  Feb 2  Comment 
Shares of Philip Morris were up 2.7% in premarket trade Thursday after the company beat fourth-quarter revenue expectations, but missed on profit. It reported net income of $1.71 billion, or $1.10 per share, up from $1.25 billion, or 80 cents per...
The Economic Times  Jan 11  Comment 
In 2013-2014, global tobacco excise taxes generated nearly $269 billion in government revenues. Of this, less than $1 billion was invested in tobacco control.
newratings.com  Jul 15  Comment 
NEW YORK CITY (dpa-AFX) - Philip Morris International Inc. (PM) reported a profit for the second-quarter of 2016 that declined 5.2 percent from the prior year. But, quarterly reported net revenues increased 1.5 percent. Adjusted earnings per...
newratings.com  Feb 4  Comment 
NEW YORK CITY (dpa-AFX) - Cigarette maker Philip Morris International Inc. (PM) reported a profit for the fourth-quarter that declined 22.5% from last year. Cigarette shipment volume was 209.8 billion units, down by 2.4% excluding acquisitions....
Forbes  Nov 12  Comment 
There are a lot of nonsensical things about state taxation. For example, public finance experts say we should impose sales tax on services (we don't). Those experts say we should never subject business purchases to sales tax (we do). We also...
MarketWatch  Jul 16  Comment 
Shares of Philip Morris International Inc. rose 1.7% in light premarket trade Thursday, after the cigarette seller beat second-quarter profit and revenue expectations. Earnings grew to $1.89 billion, or $1.21 a share, from $1.85 billion, or $1.17...
Forbes  May 27  Comment 
In a win for foreign insurance companies, the United States Court of Appeals for the D.C. Circuit held that the I.R.C. § 4371 excise tax on foreign insurers does not apply to wholly foreign retrocessions.
FiercePharma  Dec 10  Comment 
Mylan is charging full speed ahead with its $5.3 billion acquisition of Abbott Laboratories' overseas generics business. The drugmaker will shell out $32.5 million to 5 of its top executives ahead of schedule to avoid a tax penalty meant to...


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This is the total amount paid in Cigarette excise taxes in a given period.

In the U.S., tobacco products and especially cigarettes are often taxed at both the federal and state levels. The aim of the tax is both to raise government funds and to discourage smoking, especially among minors. However, raising excise taxes isn't always bad for cigarette companies--Philip Morris is one example of a company that took advantage of tax increases in Japan to spike prices above the level of the tax increase, using the tax as an excuse to raise profit margins [1]. (Altria's official policy states that it is in favor of increased governmental regulation of cigarettes.)

Critics of the excise tax cite its flat nature--because all smokers must pay the same amount of tax in the price of each pack of cigarettes, impoverished smokers are hit hardest and feel the tax's effects most.

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