Iowa HF2664 increases the tax on cigarettes and vapor products.

Iowa HF2664 increases the tax on cigarettes from 6.8 cents per cigarette to 14.3 cents per cigarette, raising the tax on a pack of cigarettes from $1.36 to $2.86. The bill also raises the tax on loose tobacco products inserted into a vending machine from which assembled cigarettes are dispensed from 3.06 cents to 6.43 cents per cigarette. The bill imposes an inventory tax on cigarettes and vapor products remaining in inventories that have not been taxed under the new tax rate. The revenues generated from the tax on cigarettes and vapor products are credited to the health care trust fund.

Iowa HF2664 increases the tax on cigarettes and vapor products.

Iowa HF2664 increases the tax on cigarettes from 6.8 cents per cigarette to 14.3 cents per cigarette, raising the tax on a pack of cigarettes from $1.36 to $2.86. The bill also raises the tax on loose tobacco products inserted into a vending machine from which assembled cigarettes are dispensed from 3.06 cents to 6.43 cents per cigarette. The bill imposes an inventory tax on cigarettes and vapor products remaining in inventories that have not been taxed under the new tax rate. The revenues generated from the tax on cigarettes and vapor products are credited to the health care trust fund.