Uptown Cigar Company, of Kingston, New York, is leaving town. After 14 years in its present location, owner Michelle Tuchman has decided to move the company down to Florida. The New York location will close on June 30, 2010, and the operation will begin in Florida on July 1, 2010.
According to a statement from Uptown Cigar, revealed first to Cigar Reader:
When Uptown Cigar Company was founded, New York State’s excise tax on tobacco products was at 20%. Over the years, the industry in New York saw the tax increased first to 37% and then to 46% — far outpacing the tax rates in other states. This year’s Executive Budget advanced by Governor Paterson proposes to increase the already uncompetitive excise tax to 90%. It is expected that the Legislature will approve this tax increase as part of a final budget deal.
You can read more of this exclusive story at Cigar Reader.
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