New Jersey bill A1046 limits the tobacco and vapor products tax on cigars to a maximum of $0.50 per cigar.

New Jersey bill A1046 amends the Tobacco and Vapor Products Tax Act to cap the tax on cigars at 50 cents per cigar. Currently, the tax on cigars is 30 percent of the wholesale price, but this bill introduces a maximum tax limit. The bill also clarifies tax payment responsibilities for tobacco product wholesalers and distributors. The changes aim to level the competitive playing field for New Jersey retailers and potentially increase state revenues.

New Jersey bill A1046 limits the tobacco and vapor products tax on cigars to a maximum of $0.50 per cigar.

New Jersey bill A1046 amends the Tobacco and Vapor Products Tax Act to cap the tax on cigars at 50 cents per cigar. Currently, the tax on cigars is 30 percent of the wholesale price, but this bill introduces a maximum tax limit. The bill also clarifies tax payment responsibilities for tobacco product wholesalers and distributors. The changes aim to level the competitive playing field for New Jersey retailers and potentially increase state revenues.