Vape Radio 89: PA Vape Tax Update – Interview With Chuck Huff скачать в хорошем качестве

Vape Radio 89: PA Vape Tax Update – Interview With Chuck Huff

Chuck Huff, the president of the Pennsylvania Vape Association tells us the effects on the vape industry in my old home state and how it has decimated the vape industry there. Entrepreneurs that risked their hearts, souls and money have been ruined in some cases and it ain’t over yet. The worse may still be yet to come. Last year the state of Pennsylvania approved a 40% floor tax, which is what we’ll be speaking about today. And in my current state of California, the deal breaker just passed last year known as Prop 56 which is even worse. On top of the legal age to vape being raised to 21, we haven’t quite seen the effect, but the tidal wave is closer and growing. We’ll explore that one in future shows. But for now, sit back and listen to the tale of PA. It’s not Halloween, but this story may scare you worse than any manufactured terror. The free and easy days of the vape industry are behind us, and aside from the challenges of competition and negative press, we have two major foes when it comes to regulations. One is the Fed, the FDA, who lowered the hammer last August with the deeming regulations. On top of that we have 50 more enemies in our midst. They are the individual states and the challenges of dealing with some of their actions. Starting early out of the gate was Minnesota who instituted an insane tax on nicotine. That was followed by others and one that we spoke about in detail in show # 87. The state of Indiana. They pretty much eliminated all out of state suppliers into the state, but recently that law was overturned and ruled unconstitutional by the federal Appellate court ====================================================== Attention: Shop Owners, Juice Brands & eCommerce Sites ====================================================== Do you need help with your vape business? We help vape shop owners, e-liquid companies and eCommerce sites launch and grow with our blog, forum, online courses, private community and 1-on-1 coaching. Checkout our links below for more info. Free Training: ************** 3-Part FDA Mini Training Course: http://bit.ly/2qXODuj How To Start A Vape Shop: http://bit.ly/2qXYbWq How To Grow A Vape Shop: http://bit.ly/2qQnkpD How To Grow Your E-Liquid Line: http://bit.ly/2qQxI0c How To Grow Your Vape eCommerce Site: http://bit.ly/2q1ZAxS Attend Our Online Courses: **************************** We have courses for any stage of your vape business journey: http://bit.ly/2qpWzbv Read The VapeMentors Blog ***************************** Articles, in-depth guides and business advice: http://bit.ly/2py01N9 Join Our Business-Only Vape Forum ************************************* No cloud-chasers looking to reduce "throat hit". This is a business-only forum for serious vape business owners: http://bit.ly/2qQva2g Hire Us For 1-on-1 Coaching ***************************** Norm Bour (For vape shops and e-liquid lines): http://bit.ly/2q4Xziu Jesse Plautz (For all things digital marketing): http://bit.ly/2r0c2MF Don't Miss An Episode! Subscribe to the Vape Radio Podcast *************************************************** Subscribe on iTunes: http://apple.co/2q4WXJH Subscribe on Stitcher: http://bit.ly/2q2kIE7 (PS If you like us, give us a 5 star rating!) ====================================================== We hope you check us out. To your success, Norm and Jesse ====================================================== What You'll Hear Today: Chuck Huff is the President of the Pennsylvania Vape Association. They are not affiliated with SFATA or any advocacy organization The PA Vaping Association is dedicated to education and later added on advocacy due to threatening regulation The 40% “floor tax” was introduced in 2014-15, but removed. It was brought back the following year and is now law, effective June 31, 2016. The state allowed a grace period to make payment until December 31, 2016. The “wholesale value” of all standing inventory is taxed, whether sold or not. Unsold products are taxed as well. The state has the right to audit for misrepresented amounts. The vape shops still pay a 6% sales tax BEFORE the floor tax is implemented The floor tax is rarely used in any industry. The tax was designed to offset budget shortfalls but may backfire due to shop closures. Some regulators have said that the tax may have been a mistake and is destroying small businesses. This creates empty storefronts and unemployment. Consumers are required to pay the tax on out of state purchases, too. Any seller from out of state that sells to PA residents is an “unclassified importer”. There were 450 “active” vape businesses in the state before the tax went into effect. Since then over 100 stores have closed. These closures cannot be directly attributed to the tax, but it’s a serious impact. Stores continue to close… Anecdo