Monday, August 18, 2014
Fuente Expanding Añejo Brand
Wednesday, August 13, 2014
Macanudo Returns to Jamaican Roots
Tuesday, August 12, 2014
Senators Voice Support for Cigars
Monday, August 11, 2014
Sosa Commemorates 50th Anniversary with Cigar
Friday, August 8, 2014
Taste Each Leaf in Alec Bradley's Fine & Rare with this Limited Box
- More from News & Features
Tobacco Tax Hike Still Undecided in California
Posted: June 12, 2012
There is still no official word on whether California cigar smokers will be paying more for a stogie, a full week after voters took to the polls to decide.
While it still appears as if Proposition 29 will not pass, hundreds of thousands of mail-in ballots still need to be counted. As of now, 50.4 percent of people have voted against raising the tax, while 49.6 percent are in favor.
If passed, Proposition 29, or the California Cancer Research Act, would raise the excise tax on cigars from 31.73 percent of the wholesale cost to 54.89 percent. In dollar terms, a cigar with a suggested retail price of $8 taxed at $1.20 under the current law would see its tax rise to $2.19 under Proposition 29.
In California, cigars are categorized as other tobacco products (OTP), along with roll-your-own and smokeless tobacco. The tax on cigarettes would also be raised by $1 per pack.
For the past two years, the state’s Board of Equalization, which controls tobacco taxation, had decreased the OTP tax. In 2010, the board lowered the tax from 41.11 percent to 33.02 percent, and the tax was again decreased last year to its current 31.73 percent.
You must be logged in to post a comment.