HI HB1491

Repeals the deferred payment purchase option for cigarette tax stamps previously allowed under sections 245-27, 245-28, 245-29, and 245-30 of the Hawaii Revised Statutes.

Requires licensees to pay for cigarette tax stamps at the time of purchase in cash, certified check, or bank transfer.

Maintains the existing 1.7 per cent stamp fee composed of 0.2 per cent for the Department of Taxation's cigarette tax stamp administrative special fund and 1.5 per cent for the Department of the Attorney General's tobacco enforcement special fund.

Eliminates provisions allowing the Department to set maximum deferred payment amounts, require bonds, suspend deferred payment privileges, and assess penalties for late payment of deferred amounts.

Takes effect on January 1, 2023.