Bill > H2763

This bill aims to increase the excise tax on cigarettes, cigars, and smoking tobacco in Massachusetts. The key provisions are: 1. The excise tax on each cigarette sold is increased from 150.5 mills to 200.5 mills, plus any amount by which the federal excise tax on cigarettes is less than 8 mills. This tax applies to licensees required to file tax returns as well as unclassified acquirers of cigarettes. 2. An 80% excise tax is imposed on the wholesale price of cigars and smoking tobacco held in the commonwealth, with some exceptions for exported or non-taxable products. 3. Manufacturers, wholesalers, retailers, and others with existing cigarettes or unused stamps must file an inventory and pay an additional 50 mills per cigarette on top of the previous 150.5 mills excise tax. The overall goal of this bill is to increase taxes on tobacco products in Massachusetts to discourage youth nicotine addiction and raise revenue.

Budget and Finance

https://malegislature.gov/Bills/193/H2763