HI HB868

Amends Hawaii's excise tax on large cigars effective July 1, 2021 by adding a new tax tier (section 14) that applies the lesser of either 50 cents per large cigar or 50 percent of the wholesale price.

Maintains existing excise tax rates on cigarettes (ranging from 5 to 13 cents per cigarette depending on effective date), little cigars (11 cents), and other tobacco products (70 percent of wholesale price).

Clarifies that the 50 percent wholesale price tax on large cigars established in 2009 is replaced by the new tiered approach that caps the tax at 50 cents per cigar.

Preserves existing provisions allowing refunds or credits for taxes paid on cigarettes, little cigars, or tobacco products that become subject to casualty loss deductions.