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Legislative Year: 2024 Change

Bill Detail: SB24-102

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Title Taxation Premium Cigars
Status Senate Committee on Finance Postpone Indefinitely (02/29/2024)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors
Senate Sponsors T. Sullivan (D)
House Committee
Senate Committee Finance
Date Introduced 01/26/2024

Effective July 1, 2024, the bill defines premium cigars and
reduces the statutory rate of taxation of this particular tobacco product
from the current rates for all non-cigarette tobacco products other than
moist snuff of 36% of the manufacturer's list price (MLP) from July 1,
2024, through June 30, 2027, and 42% of the MLP on and after July 1,
2027, to 20% of the MLP, effectively rolling back the increases in the
statutory taxation rate for such tobacco products since 2005. The bill does
not affect taxation of premium cigars under section 21 of article X of the
state constitution, which imposes an additional 20% tax.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (02/23/2024) (most recent)  
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  • Past fiscal notes
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