Use Taxes on Nonmedical Marijuana and Increase the Tax on Cigarettes To Partially Offset the 3% Income Tax Surcharge

Last updated: May 15, 2017

Details about this bill
Category: Taxation
Status: Defeated
Sponsor: Representative Dale Denno, House 45
Session: 128
Bill #: LD 708

Position:

Monitoring.

UPDATE: This bill was voted Ought Not to Pass.

Summary:

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.