HI HB868

Amends Hawaii Revised Statutes Section 245-3 to modify the excise tax structure on large cigars effective July 1, 2021.

Changes the large cigar excise tax from a flat 50 percent of wholesale price to the lesser of: 50 cents per large cigar or 50 percent of the wholesale price.

Reformats existing cigarette and tobacco product excise tax rates by replacing decimal notation (5.00 cents) with whole number notation (5 cents) without changing the actual tax amounts.

Maintains the existing 70 percent excise tax on other tobacco products and 50 percent tax on large cigars sold before July 1, 2021.

Takes effect on July 1, 2021.