IL SB2994

Amends the Tobacco Products Tax Act of 1995 to cap the tax on cigars (excluding little cigars) at $0.50 per cigar, effective January 1, 2025.

Allows distributors a discount equal to 2% of their tax liability per return, with a maximum discount of $2,000 per return.

Modifies Section 10-30 of the Tobacco Products Tax Act to require distributors to remit tax liability less the discount allowed when filing monthly returns by the 15th of each month.