Bill > SB142

This bill defines "fine cigar" in the Tobacco Products Tax Act and creates a new tax rate differential for fine cigars. Specifically, the bill defines "fine cigar" as a roll of tobacco that is wrapped in 100% natural leaf tobacco, and it sets the tax rate for fine cigars at 10% of the product value, not to exceed $0.10 per fine cigar. This is a lower rate compared to the 25% tax on regular cigars. The bill also makes some other technical changes to the definitions and tax rates for other tobacco products, such as little cigars and e-liquid.

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=142&year=22