The New Hampshire Liquor Commission recently reported unaudited income for fiscal year 2O1O ending June 3O. Net sales for the year topped the half billion dollar mark at $511.4 million, an increase of 4.8 percent over the previous fiscal year. Spirit sales increased 5 percent and wine sales increased 4.5 percent over last year. These results include a 6 percent increase in retail store sales, a 2.6 percent increase in grocery store sales and a 1 percent increase in restaurant sales over the previous year. Net profits from liquor operations grew to a record $12O million, an increase of more than 1O percent over the previous fiscal year, exceeding all national growth trends in the industry. This level of performance translates into over $1 billion in net profits over the next eight years for New Hampshire taxpayers.
10 comments:
Does the legislature in MA get a kick back from NH for this?
So what are you implying? A MA sales tax hurts booze sales? Folk sare going north to by their fill?
Impossible to prove that the increase came from MA residents.
Fact is in a recession with lots of unemployment folks drink right? Pretty sure NH has its share of unemployed.
Don't be disingenuous.
Pat
Steve Grossman claims Mass is seeing $100 million in revenues from the alcohol tax, while NH's 4.8% increase represents $20 million.
Anonymous
it is impossible to prove--true, but I am still implying that.
Not only that while they are in New Hampshire they are also buying their cigarettes and lottery tickets.
Next time you see a smoke ask them where they buy their cigs?
BHill
*Impossible to prove that the increase came from MA residents.
>>sit outside one of those liquor stores on rt 93..maybe impossible to provbe but on this one we can guess a wee bit Paddy
I was coming home from Maine earlier this summer and decided to stop at a NH liquor store to "stock up".
I had never been in a NH state liquor store prior to this visit. I have to say I was unimpressed. I thought overall the prices (at least on what I like) was not much lower and in several cases higher than what I pay in Massachusetts.
For me it makes no sense to buy liquor in NH. I'll buy in Massachusetts even with the higher tax. Now that is not to say that I agree with the state sales tax being added to liquor in Mass. I plan to vote to repeal the sales tax.
So you've sat on 93 and counted the cars right? Really now?
As a smoker I buy my butts locally. As do all the people I work with and smoke with at the local bar. No one goes to NH. What for? To buy butts when they're here too?
Excuse me, you're confirming its saying "impossible to prove" but none the less you're implying it still? The logic escapes me.
Pat
Pat:
All the people you work with buy their cigarettes locally. Trust me not a chance.
Bill
DAvid, I think it may be the beer prices that are so much lower in Cow Hampshire and not nec. the liquor prices.
IMO it's the cigs that are the more the "valuable" transshipping item....lower bulk and larger savings margins vs.the booze and beer.
But what we have happening is the classic ECONOMICS 101 multiplier effect as bill kinda refers to but doesnt necESSARILY . CALL it as such.
One goes to NH to grab cigs b/c that IS where the largest dollar saving is and while they're at it they buy beer and a set of car tires and an expensive electronic gadget.
Massachuseets thinking kinda goes in circles....like it great to have a sales tax holiday in august to promote local sales...mmm....so what about promoting the otehr 364 days of the year.
Dingbats like Coupe Deval backed a sales tax holiday in summer 2010 but not in summer 2009 b/c the summer of 2010 was the summer of recovery, per his mentor Barack vs. 2009 when we were still in the recession......priceless and truly goes to show out of touch these pols are.
Bill wrote:
"All the people you work with buy their cigarettes locally. Trust me not a chance."
I just asked the eight people on cigarette break where they buy their cigarettes.
All eight said New Hampshire (after asking if I worked for the state).
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