HB 555 (BR 1790) - T. Thompson
AN ACT relating to tobacco products.
Amend KRS 138.130 to define and redefine terms; amend KRS 138.140 to replace the tax imposed on wholesalers of moist snuff and other tobacco products with an excise tax on distributors for the privilege of selling tobacco products in this state, effective August 1, 2012; provide moist snuff shall be taxed at 19 cents per unit; provide loose-leaf chewing tobacco shall be taxed at 19 cents per single unit, 40 cents per half-pound unit, or 65 cents per pound unit, and an additional 19 cents for each increment of four ounces or more over 16 ounces; provide all other tobacco products shall be taxed at 15 percent of the manufacturer's sales price; amend KRS 138.195 to require a $500 license fee to be paid annually by each distributor; require monthly reporting by manufacturers of tobacco products; require distributor to report and pay the tax on a monthly basis; create new sections of KRS 138.130 to 138.205 to require distributors to keep records for not less than four years; provide for the seizure, forfeiture, and destruction of contraband tobacco products and the seizure, forfeiture, and sale of personal property used in connection with the sale or possession of contraband tobacco products; EFFECTIVE August 1, 2012.
Mar 1-introduced in House
Mar 5-to Appropriations & Revenue (H)