MS HB1721

Increases the state excise tax on cigarettes from 3.4 cents to 8.4 cents per cigarette (for cigarettes up to 120 millimeters in length).

Maintains the existing 15% manufacturer's list price tax rate on other tobacco products including cigars, snuff, chewing tobacco, and smoking tobacco.

Brings forward Section 27-70-5 regarding the tobacco equity tax of $0.0135 per cigarette imposed on cigarettes made by nonsettling manufacturers, with annual increases of 3% or the Consumer Price Index increase (whichever is greater) each July 1.

Exempts cigarettes manufactured by tobacco settlement agreement signatories from the tobacco equity tax.

Takes effect July 1, 2017.