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Mississippi Governor Signs Revised Tobacco Tax Law on April 26

Regulations by 2FIRSTS.ai
Apr.26.2024
Mississippi Governor Signs Revised Tobacco Tax Law on April 26
Mississippi Governor Signs Revised Tobacco Tax Law, including tax on heated tobacco products, expanding definitions, effective July 1.

According to a report by Bloombergtax on April 26, the governor of Mississippi signed a bill amending the tobacco tax law on that day.

 

The revised bill includes the following measures:

 

  • A consumer tax will be imposed on heated tobacco products, with a tax rate of 1.25 cents per disposable heated tobacco unit or stick. 
  • The definition of "tobacco" has been expanded to include heated tobacco products, and specific guidelines have been set for the definition of "heated tobacco products". 
  • Heated tobacco products will not be taxed as cigarettes, but rather as their own separate commodity. This law will go into effect on July 1st.

 

References:
[1] Mississippi Governor Signs Law Levying Excise Tax on Heated Tobacco Products
Also Read:
[1] Mississippi House Considers Bill to Ban E-Cigarette Sales
[2] Mississippi to Impose Consumption Tax on Disposable E-Cigarettes
#North America#United States#Legislation#Heated tobacco products

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