Maryland Governor Wes Moore Signs 2024 Budget Coordination and Financing Act

Regulations by 2FIRSTS.ai

Jun.14.2024

Maryland Governor Wes Moore Signs 2024 Budget Coordination and Financing Act

Maryland Governor Wes Moore signed the 2024 Budget Coordination and Financing Act, increasing tobacco taxes and e-cigarette sales tax.

According to Wbaltv on June 13, Wes Moore, the Governor of Maryland, signed the 2024 Budget Coordination and Financing Act on May 16.

The bill stipulates that, in addition to other provisions, the consumption tax on cigarettes and the tax on wholesale prices of other tobacco products will increase. In addition, the bill also raises the sales and usage tax rates on e-cigarette devices, including e-cigarette liquid sold in containers containing more than 5 milliliters of e-liquid. The taxes on cigars and pipes, as well as containers with 5 milliliters or less of e-liquid, will not change.

The new tobacco product tax rates in the state are as follows:

Each pack of 20 cigarettes will increase by $1.25, with an additional $5 in taxes levied on each pack.

For each pack of cigarettes containing more than 20 sticks, the price increases by nearly 8 cents per stick, making the cost of each cigarette 25 cents.

Wholesale prices for other tobacco products (excluding pipe tobacco and cigars) have increased by 7% to 60% of the original price.

Sales and usage taxes on e-cigarette devices containing over 5 milliliters of e-liquid have been increased by 8%, bringing the total tax to 20%.

References:

[1] Taxes on cigarettes, tobacco products, e-smoking devices set to increase July 1 in Maryland

Also Read:

[1] Maryland Updates Indoor Air Cleanliness Law to Include E-Cigarettes

[2] Maryland Reaches Agreement on $63 Billion Budget, with New Taxes on Tobacco and Vapes

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