HI SB2135

Amends Hawaii's excise tax on large cigars effective July 1, 2016 to impose a tax equal to the lesser of 50 cents or 50% of the wholesale price per large cigar.

Replaces the previous flat 50% wholesale price tax on large cigars (in effect since September 30, 2009) with a capped structure that limits the tax to a maximum of 50 cents per cigar.

Maintains existing excise tax rates on cigarettes (13-16 cents depending on date of sale), little cigars (11-16 cents), and other tobacco products (70% of wholesale price).

Applies to large cigars of any length sold, used, or possessed by wholesalers or dealers, whether or not sold at wholesale.

Takes effect on July 1, 2016.