Bill
Bill > S04413
NY S04413
NY S04413Provides that the tax on premium cigars shall be at the rate of seventy-five percent of the wholesale price or fifty cents, whichever is less, and is intended to be imposed only once upon the sale of any premium cigars; defines "premium cigar"; provides for the repeal of such provisions upon expiration thereof.
summary
Introduced
02/08/2023
02/08/2023
In Committee
05/14/2024
05/14/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to excise taxes on premium cigars; and providing for the repeal of such provisions upon expiration thereof
AI Summary
This bill amends the New York tax law to impose a tax on premium cigars at the rate of 75% of the wholesale price or 50 cents, whichever is less. The bill defines "premium cigar" as a cigar that is wrapped in whole leaf tobacco, contains a 100% leaf tobacco binder, is manually combined, has no filter or tip, and weighs more than six pounds per one thousand units. The tax is intended to be imposed only once upon the sale of any premium cigars. The bill also provides for the repeal of these provisions after three years.
Committee Categories
Budget and Finance
Sponsors (14)
Jessica Ramos (D)*,
Joe Addabbo (D),
Jake Ashby (R),
Leroy Comrie (D),
Jeremy Cooney (D),
Nathalia Ferna´ndez (D),
Patrick Gallivan (R),
Monica Martinez (D),
Rob Ortt (R),
Kevin Parker (D),
Gustavo Rivera (D),
Luis Sepúlveda (D),
Dan Stec (R),
Bill Weber (R),
Last Action
REPORTED AND COMMITTED TO FINANCE (on 05/14/2024)
Official Document
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