Hawaii HB1426 redefines "premium cigar" and exempts them from the state's percentage excise tax.
Hawaii HB1426 amends the state's tax laws to redefine "premium cigar" and exempt them from the percentage excise tax. The bill establishes a distinct definition for "premium cigar," excluding them from the tax. It also introduces an excise tax on premium cigars at a rate of 50 cents per cigar. The bill aims to ease the burden on local premium cigar sellers and increase state tax revenue by making in-state premium cigar sales more competitive. The changes will take effect on July 1, 2025.
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