The F.T.C. has approved a tax on electronic cigarettes in New York State, where a previous effort failed.
The Feds have approved a measure that will tax e-cigarettes at up to 20% of their retail price.
That will make the e-cig industry one of the largest cigarette tax schemes in the country, according to the F.E.C., which released the news today.
“The F.S.P.E.-based e-liquids market has grown from a few dozen stores in the U.S., in 2014, to more than 100,000 outlets in 22 states,” F.H.S.-based E-cigarette Alliance Executive Director Tom Szczerbowski said in a statement.
“With the approval of this tax, e-liquid sales will increase by about $100 million per year.”
The Fhc was also approved by the Feds to ban sales to minors, and to prohibit the sale of e-cigs to those under the age of 21.
The e-Cigarette Tax Act of 2018, which is being sponsored by the New Jersey Economic Development Authority, passed the Assembly in January and is expected to be voted on by the full Assembly this week.
The bill has already passed the Senate, where it is currently awaiting action in the upper chamber.
“These measures are good news for our consumers and our economy,” Fhcig said in its statement.