CO SB056

Caps the statutory excise tax on premium cigars at 20% of the manufacturer's list price, down from the current rate of 36% (effective through June 30, 2027) and the scheduled rate of 42% (effective July 1, 2027)

Defines "premium cigar" as a cigar that is hand-rolled, has a wrapper made of whole tobacco leaves, and does not have a filter or mouthpiece

Takes effect July 1, 2025, applying to sales, use, consumption, handling, or distribution of premium cigars on or after that date

Does not affect the separate 20% constitutional tax on premium cigars, which remains in addition to the statutory rate