Assembly Actions -
Senate Actions - UPPERCASE
|Jan 20, 2023||
referred to budget and revenue
Senate Bill S2425
2023-2024 Legislative Session
Current Bill Status - In Senate Committee Budget And Revenue Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2023-S2425 (ACTIVE) - Details
2023-S2425 (ACTIVE) - Sponsor Memo
BILL NUMBER: S2425 SPONSOR: HOYLMAN-SIGAL TITLE OF BILL: An act to amend the tax law, in relation to increasing the tax imposed on the sale of tobacco products and the retail sale of vapor products PURPOSE: This legislation will increase the tax imposed on the sale of tobacco and vapor products. SUMMARY OF PROVISIONS: Section 1 of the bill amends subdivision 471-b of the tax law to increase the tax on tobacco products other than little cigars from 75% of wholesale price to 129% of wholesale price. It also moves snuff from a tax by weight model to a tax based on the wholesale price. Section 2 of the bill amends Section 1181 of the tax law to increase the tax on vapor products from 20% of receipts from the retail sale to 48%
2023-S2425 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2425 2023-2024 Regular Sessions I N S E N A T E January 20, 2023 ___________ Introduced by Sen. HOYLMAN-SIGAL -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to increasing the tax imposed on the sale of tobacco products and the retail sale of vapor products THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 471-b of the tax law, as amended by section 2 of part QQ-1 of chapter 57 of the laws of 2008, paragraphs (a) and (b) as amended by section 18 and paragraph (c) as added by section 19 of part D of chapter 134 of the laws of 2010, is amended to read as follows: 1. There is hereby imposed and shall be paid a tax on all tobacco products possessed in this state by any person for sale, except that no tax shall be imposed on tobacco products sold under such circumstances that this state is without power to impose such tax, or sold to the United States, or sold to or by a voluntary unincorporated organization of the armed forces of the United States operating a place for the sale of goods pursuant to regulations promulgated by the appropriate execu- tive agency of the United States, to the extent provided in such regu- lations and policy statements of such an agency applicable to such sales. (a) Such tax on tobacco products other than [snuff and] little cigars shall be at the rate of [seventy-five] ONE HUNDRED TWENTY-NINE percent of the wholesale price, and is intended to be imposed only once upon the sale of any tobacco products other than [snuff and] little cigars. (b) [Such tax on snuff shall be at the rate of two dollars per ounce and a proportionate rate on any fractional parts of an ounce, provided that cans or packages of snuff with a net weight of less than one ounce shall be taxed at the equivalent rate of cans or packages weighing one ounce. Such tax shall be computed based on the net weight as listed by EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00682-01-3 S. 2425 2
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