Use Taxes on Nonmedical Marijuana and Increase the Tax on Cigarettes To Partially Offset the 3% Income Tax Surcharge
|Sponsor:||Representative Dale Denno, House 45|
|Bill #:||LD 708|
UPDATE: This bill was voted Ought Not to Pass.
This bill increases the sales tax on nonmedical marijuana from 10% to 15% and the tax on cigarettes from $2.00 per pack of 20 cigarettes to $2.50 per pack. The bill provides that revenue from these increases is deposited in the newly created Surcharge Relief Fund to be used to reduce the rate of the 3% surcharge on taxable income exceeding $200,000. The bill contains an effective date of October 1, 2017.