MS HB1943

Defines "heated tobacco products" as products containing tobacco that produce inhalable aerosol by heating tobacco without combustion or using heat that primarily heats rather than burns the tobacco.

Establishes an excise tax on heated tobacco products at 2.8 cents per disposable heated tobacco unit or stick sold for consumption.

Excludes heated tobacco products from the cigarette tax rate (3.4 cents per cigarette) but maintains their inclusion under the general definition of "tobacco" in the tax code.

Clarifies that heated tobacco products are subject to the excise tax under Section 27-69-13 but separate from the 15% manufacturer's list price tax applied to cigars and other tobacco products.

Takes effect July 1, 2024.