09/30/2021
TIME to ACT while you can…
As you have probably seen and heard, legislators in Washington, DC have presented a very large tax increase proposal on to***co products. Commonly referred to as the To***co Tax Equity Act, this bill would support the $3.5 Trillion Infrastructure Plan called "Build Back Better."
WHAT YOU COULD EXPECT
This proposed tax increase creates an unfair burden on the to***co industry and would significantly impact your business. If the bill passes as is, you can expect to see the federal excise tax on ci******es double. The tax on all other to***co products would also increase to be at parity with ci******es. Federal tax could be increased by up to 2,000% and include a never-before-seen tax on v***r products. Not only that, state taxes would increase on pipe to***co, moist smokeless to***co and ci**rs as it's calculated from a manufacturers list price. Additional details can be found in the chart below. To put this in perspective...
Filtered Ci**rs will increase by at least $7.00 per carton
Ci******es will increase by at least $10.00 per carton
Pipe To***co will increase by at least $47.00 per 1lb bag
Moist Smokeless will increase by at least $9.50 per roll
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