State Cigarette Tax Falling Short of Estimates
State officials say Illinois' $1-per-pack cigarette tax increase isn't bringing in as much money as they'd hoped.
The year-old tax took effect last June and raised the state tax on a pack of cigarettes from 98 cents to $1.98. At the time, officials said the money would bring in desperately needed revenue, while also discouraging people from smoking.
But The (Springfield) State Journal-Register reports (http://bit.ly/17p767z) the tax is expected to bring in $212 million in extra money for the current fiscal year. That's about 39 percent short of the $350 million that was projected.
Authorities say fewer people are buying cigarettes, which explains the decline.
Total cigarette tax revenue for the year is expected to reach almost $788million, up 37 percent from the previous year.