SB18-179
Extend Credit For Out-of-state Tobacco Sales
Concerning adjustments to total gross purchases for purposes of calculating the excise tax on tobacco products, and, in connection therewith, making an appropriation.
Session:
2018 Regular Session
Subject:
Bill Summary
Fiscal Policy & Taxes
Currently and until September 1, 2018, a distributor can claim a credit for taxes paid on tobacco products that are shipped or transported by the distributor to a consumer outside of the state. The bill makes the credit permanent and requires the distributor to maintain certain records related to the out-of-state sales to consumers.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)