Reduce Premium Cigar Excise Tax Rate
| Type | Bill |
|---|---|
| Session | 2025 Regular Session |
| Subjects |
Concerning the taxation of premium cigars, and, in connection therewith, capping the statutory excise tax on premium cigars at twenty percent.
Bill Summary:
Effective July 1, 2025, the bill defines "premium cigar" and reduces the statutory rate of excise taxation of this particular tobacco product from the current rates for all non-cigarette tobacco products other than moist snuff of 36% of the manufacturer's list price (MLP) from July 1, 2024, through June 30, 2027, and 42% of the MLP on and after July 1, 2027, to 20% of the MLP, effectively rolling back the increases in the statutory taxation rate for such tobacco products since 2005. The bill does not affect taxation of premium cigars under the state constitution, which imposes an additional 20% tax.
(Note: This summary applies to this bill as introduced.)
Prime Sponsors
Senator
Tom Sullivan
Committees
Senate
Finance
Related Documents & Information
| Date | Version | Documents |
|---|---|---|
| 01/17/2025 | Introduced |
| Activity | Vote | Documents |
|---|---|---|
| Refer Senate Bill 25-056 to the Committee on Appropriations. | The motion failed on a vote of 4-5. | Vote summary |
| Postpone Senate Bill 25-056 indefinitely using a reversal of the previous roll call. There was no objection to the use of the reverse roll call, therefore, the bill was postponed indefinitely. | The motion passed on a vote of 5-4. | Vote summary |
| Date | Location | Action |
|---|---|---|
| 02/04/2025 | Senate | Senate Committee on Finance Postpone Indefinitely |
| 01/17/2025 | Senate | Introduced In Senate - Assigned to Finance |