Thursday, April 15 2010
SB516 Proposes Tobacco Tax Increases and Equivalent Floor Stocks Tax
By Chris McCalla, Legislative Dir., IPCPR
April 16, 2010 - As the State Legislature continues working on its budget deficit, Senate Bill 516 proposes tobacco tax increases across the board, including increasing the OTP excise tax rate from 10% to 40%. SB516 also includes a floor stocks tax.
April 16, 2010 - As the State Legislature continues working on its budget deficit, Senate Bill 516 proposes tobacco tax increases across the board, including increasing the OTP excise tax rate from 10% to 40%. SB516 also includes a floor stocks tax.
Presently, the State House opposes any new taxes, potentially complicating this issue.
Important Note for Cigar Retailers
The IPCPR has initiated a Legislative Action Alert opposing SB516. We sent to all retailers countertop postcards for distribution to your customers so they may contact their state senators and voice their opposition to the proposed tax increase. This Legislative Action Alert complements efforts under way by industry allies in ultimately defeating this excessive tax increase.
Kansas residents are also urged to participate in this Action Alert.and contact their state senators.
As new information develops on SB516, IPCPR will update you.
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