Vape businesses at risk of closing shop
  • venynxvenynx March 15
    Vape businesses at risk of closing shop

    The governor gave his first budget address on Wednesday.Vape Wholesale proposed several new taxes. One of those is a 36% wholesale tax on vaping products.

    Business owners in central Illinois believe that could kill their livelihoods. The governor says this tax would benefit the state. It's projected to create an estimated $10,000,000 in revenue. Austin Palmer, the owner of Steam Industries Vape Lounge in Champaign, says that tax increase could put him out of business. He says, "It's going to be detrimental to any vape shop or company in Illinois period."

    Vape shop owners say they're facing a potential risk to their profits. Palmer says, "It's just going to drive the cost up for the consumer. It could raise it anywhere from $5-10 per bottle for a lot of shops." He's worried that if he drives up the cost of his products, customers will leave brick and mortar stores and shop online instead.

    Governor Pritzker's official budget document says in part, "The aggressive and effective marketing to younger consumers is troubling. As a result...the governor is proposing to tax e-cigarettes at 36% of the wholesale price, the same rate at which other tobacco products are taxed."

    Some think that the proposed tax would create another hurdle for people who use e-cigarettes as an alternative to nicotine addiction. Palmer says when it comes to his business, it likely wouldn't make it if this passes.

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