Cigar Asylum Cigar Forum - View Single Post - S-CHIP Required Reading

TheRiddick · 02-10-2009, 02:15 PM

I still say that anyone not reporting correct floor tax is playing with fire. That said, and looking at the RYO increase in the SCHIP, that's a LOT of tax to pay and looks to be very painful. I would recommend any shop with stock on hand right now sell it at huge discount if need be so that come April 1st they have nothing to report or as little as is possible.

Don't forget that state tax boards have 2 months now to figure out which shops will owe them come time to report and collect. This is going to be ugly for the large shops we all buy from, Famous, JR, Corona, CI and others, they have plenty of those small cigars (cigarette replacements) in stock.

02-10-2009, 02:15 PM	#9
TheRiddick Non-believer Join Date: Jan 2009 First Name: Greg Location: Las Vegas Posts: 943 Trading: (7)	Re: S-CHIP Required Reading I still say that anyone not reporting correct floor tax is playing with fire. That said, and looking at the RYO increase in the SCHIP, that's a LOT of tax to pay and looks to be very painful. I would recommend any shop with stock on hand right now sell it at huge discount if need be so that come April 1st they have nothing to report or as little as is possible. Don't forget that state tax boards have 2 months now to figure out which shops will owe them come time to report and collect. This is going to be ugly for the large shops we all buy from, Famous, JR, Corona, CI and others, they have plenty of those small cigars (cigarette replacements) in stock.