CO SB102

Defines "premium cigars" as cigars that are hand-rolled, have a wrapper made of whole tobacco leaves, and do not have a filter or mouthpiece.

Reduces the tax on premium cigars to 20% of the manufacturer's list price (MLP), effective July 1, 2024, rolling back increases in the statutory taxation rate for such products since 2005.

Does not affect the additional 20% constitutional tax on premium cigars under section 21 of article X of the state constitution.

Applies to the sale, use, consumption, handling, or distribution of premium cigars on or after July 1, 2024.