Posted by: audreybenenati | January 29, 2010

Paterson proposes nearly $1 billion in new taxes and fees


By Tim Knauss / The Post-Standard

January 19, 2010, 1:16PM

New Yorkers would pay nearly $1 billion more in new taxes and fees next year if Gov. David Paterson’s budget is enacted. More than 90 percent of those revenues would be dedicated to health care investments, according to the governor’s budget documents. By the time the increases are fully implemented in 2011-2012, they are expected to raise more than $1.5 billion per year.

Here are some of the major increases:

Soft drinks: A new excise tax on beverage syrups and sugared soft drinks is expected to raise $465 million during the 2010-2011 fiscal year and $1 billion during the following year. The tax — $7.68 per gallon for syrups and $1.28 per gallon for bottled soft drinks — is expected to increase consumer prices one cent per ounce, or 20 cents for a 20-ounce soda.

Taxable sugar-sweetened beverages would include those that contain more than ten calories per eight ounces, such as soda, sports drinks, “energy” drinks, colas, fruit or vegetable drinks containing less than 70 percent natural fruit or vegetable juice, and bottled coffee or tea. Milk, milk products, milk substitutes, dietary aids, and infant formula would be exempt.

Cigarettes: The state cigarette tax would increase $1, from $2.75 to $3.75 per pack. That’s expected to raise an extra $218 million next year.

Read the rest at http://www.syracuse.com/news/index.ssf/2010/01/paterson_proposes_nearly_1_bil.html

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