NJ A4080

Increases New Jersey's cigarette tax from $0.135 per cigarette ($2.70 per pack) to $0.20 per cigarette ($4.00 per pack) through four annual increases beginning July 1, 2024

Phase-in schedule: $3.25/pack (July 2024), $3.50/pack (July 2025), $3.75/pack (July 2026), and $4.00/pack (July 2027 and thereafter)

Requires licensed retail dealers, distributors, and wholesale dealers to file returns and pay additional taxes on existing cigarette inventory at each tax increase effective date

Maintains existing dedications of cigarette tax revenue: 1% for smoking cessation/prevention programs and $391.5 million to the Health Care Subsidy Fund for hospital payments

Additional revenue from the tax increases would go to the General Fund as State revenue, except for the existing dedicated portions