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SB 516
Increase taxes upon cigarettes and tobacco products
Last Updated: 05.28.10

Description
Would have increased the cigarette tax, tobacco products tax, and retail sales and compensating use tax. The bill would increase the cigarette tax to $1.34 a pack (from $0.79 a pack) and would raise the tobacco products tax to 40.0 percent of wholesale price (from 10.0 percent). The bill would establish an inventory tax for all tobacco products on hand as of July 1, 2010, which would be the effective date of the tax increase. For tobacco products, the inventory tax at the retail level would be set at 30.0 percent of the retail invoice price to the consumer.

KMS Position
Supported

Status
Did not pass