S1545

23 Jun: Vitale Bill To Prevent Against Counterfeit Tobacco Tax Stamps Approved In Senate

TRENTON – A measure sponsored by Senator Joseph F. Vitale which would direct the Division of Treasury to look at a more secure cigarette tax stamp to prevent counterfeiting was approved today by the Senate by a vote of 38-0, receiving final legislative approval.

“As we’ve seen in this year’s budget deliberations, every penny of existing tax revenue is important to meeting the obligations of the State of New Jersey,” said Senator Vitale, D-Middlesex, and the Chair of the Senate Health, Human Services and Senior Citizens Committee. “However, every year, we lose millions of dollars in uncollected taxes due to counterfeit tobacco tax stamps. We need to do a better job in securing cigarette tax stamps, and ensuring that it’s harder for forgeries to get into the retail stream.”

19 Jun: Vitale Bill To Prevent Against Counterfeit Tobacco Tax Stamps Advances

TRENTON – A measure sponsored by Senator Joseph F. Vitale which would direct the Division of Treasury to look at a more secure cigarette tax stamp to prevent counterfeiting was approved today by the Senate Budget and Appropriations Committee by a vote of 13-1.

“New Jersey loses out on millions of dollars in tax revenue each year to counterfeit tobacco stamps,” said Senator Vitale, D-Middlesex, and the Chair of the Committee. “As we try to come to grips with chronic budgetary gaps and put New Jersey back on sure financial footing, we cannot leave millions of dollars in existing tax revenue on the table. We need to make the most of our State’s revenue sources, and that means making it harder for tax cheats to scam the system.”

05 Jun: Vitale Bill To Prevent Against Counterfeit Tobacco Tax Stamps Approved

TRENTON – A measure sponsored by Senator Joseph F. Vitale which would require a more secure cigarette tax stamp to prevent counterfeiting was unanimously approved by the Senate Health, Human Services and Senior Citizens Committee today.

“Every year in New Jersey, counterfeit cigarette tax stamps account for hundreds of millions of dollars in lost tax revenue,” said Senator Vitale, D-Middlesex, and the Chair of the Committee. “We need to step up our State’s anti-counterfeiting measures, to make sure that people are meeting their legally-binding tax responsibility. We cannot cede millions of dollars in revenue because our anti-counterfeiting technology is severely behind the times.”