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MS SB2893
Bill
AI Summary
- Increases the excise tax on cigarettes from 3.4 cents to 8.4 cents per cigarette sold
- Tax applies to each cigarette with a maximum length of 120 millimeters; cigarettes exceeding this length are taxed as two or more cigarettes
- Maintains the existing 15% excise tax rate on cigars, cheroots, stogies, snuff, chewing tobacco, smoking tobacco, and other tobacco products except cigarettes
- Reduces the dealer discount or compensation from 8% to 4% on stamps purchased after June 1, 1985, to comply with taxes imposed by this section
- Effective date is July 1, 2020
Legislative Description
Cigarettes; increase excise tax on.
Last Action
Died In Committee
6/3/2020
Committee Referrals
Finance2/28/2020
Full Bill Text
No bill text available