S.3554

New Jersey S3554 limits the tobacco and vapor products tax on cigars to a maximum of $0.50 per cigar.

New Jersey S3554 proposes to limit the tax on cigars under the Tobacco and Vapor Products Tax Act to a maximum of 50 cents per cigar. The current tax on cigars is 30 percent of the wholesale price, but this bill caps the tax at 50 cents per cigar. The bill also clarifies the tax payment responsibilities of tobacco product wholesalers and distributors. The tax will still be 30 percent of the wholesale price, but it will not exceed 50 cents per cigar. The bill aims to encourage consumers to purchase cigars from local brick-and-mortar retailers, who are often small, locally-owned businesses.