Reduces the excise tax rate on premium cigars in Colorado to 20% of the manufacturer's list price.

The bill reduces the statutory excise tax on premium cigars in Colorado to 20% of the manufacturer's list price, effective July 1, 2026. This change rolls back the tax rates for premium cigars, which were previously set at 36% from July 1, 2024, through June 30, 2027, and 42% thereafter. The bill defines "premium cigar" as a cigar rolled by hand, wrapped in whole tobacco leaves, and without a filter or mouthpiece. The reduction does not affect the additional 20% tax on premium cigars imposed by the state constitution.

Reduces the excise tax rate on premium cigars in Colorado to 20% of the manufacturer's list price.

The bill reduces the statutory excise tax on premium cigars in Colorado to 20% of the manufacturer's list price, effective July 1, 2026. This change rolls back the tax rates for premium cigars, which were previously set at 36% from July 1, 2024, through June 30, 2027, and 42% thereafter. The bill defines "premium cigar" as a cigar rolled by hand, wrapped in whole tobacco leaves, and without a filter or mouthpiece. The reduction does not affect the additional 20% tax on premium cigars imposed by the state constitution.