05.04 tobacco Why illicit trade is a function of poor enforcement, not high tax rates https://www.bworldonline.com/opinion/2026/05/25/751663/why-illicit- tobacco-trade-is-a-function-of-poor-enforcement-not-high-tax-rates/ Tony Leachon Chacom - The Pipe Shop

This ruling came after RJR Vapor (the company behind VELO) asked for a refund on the taxes it paid in 2020, when the Texas Comptroller originally decided to apply its tobacco tax to VELO products

Projected CAGR 4% Over the last 14 years, the compound annual growth rate for Gross Profit has been 4%

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