Taxation Premium Cigars
| Type | Bill |
|---|---|
| Session | 2024 Regular Session |
| Subjects |
Concerning the taxation of premium cigars, and, in connection therewith, capping the statutory tax on premium cigars at twenty percent.
Bill Summary:
Effective July 1, 2024, the bill defines "premium cigars" and reduces the statutory rate of 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 section 21 of article X of 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 |
|---|---|---|
| 01/26/2024 | Introduced |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.001 (Attachment A). | The motion passed without objection. | Vote summary |
| Refer Senate Bill 24-102, as amended, to the Committee on Appropriations. | The motion failed on a vote of 3-4. | Vote summary |
| Postpone Senate Bill 24-102 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 4-3. | Vote summary |
| Date | Amendment Number | Committee/ Floor Hearing | Status | Documents |
|---|---|---|---|---|
| 02/29/2024 | L.001 | SEN Finance | Passed [*] |
| Date | Location | Action |
|---|---|---|
| 02/29/2024 | Senate | Senate Committee on Finance Postpone Indefinitely |
| 01/26/2024 | Senate | Introduced In Senate - Assigned to Finance |