Manufacturer's List Price For Tobacco Products Tax

The total tax on tobacco products is 40% of the manufacturer's list price, which is based on a manufacturer's or supplier's invoice price to a distributor. The bill permits a distributor to use the price that the tobacco product is sold to the first importer of record or first manufacturer of record as the manufacturer's list price, if the distributor is able to provide the department of revenue with evidence of this price.

(Note: This summary applies to this bill as introduced.)