NY S06839

Changes tobacco product tax from being imposed on products "possessed in this state by any person for sale" to products "sold, shipped or delivered within this state by any person"

Imposes a tax on cigars at the rate of seventy-five percent of the wholesale price or one dollar per cigar, whichever is less, instead of the previous tax structure

Requires distributors to file monthly returns showing the quantity and wholesale price of all tobacco products sold, shipped or delivered within the state during the preceding calendar month

Mandates the Commissioner of Taxation and Finance to submit an annual July report to the Governor and Legislature evaluating tobacco product tax revenue, quantity sold by category, and number of distributors filing, with provisions for public disclosure

Sections two and three of the act expire and are deemed repealed on December 31, 2017, with the act taking effect ninety days after becoming law