Mississippi Governor Signs Revised Tobacco Tax Law on April 26
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.
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