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2005 SESSION

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HB 2035 Excise tax; imposition on cigarette manufacturers.

Introduced by: Phillip A. Hamilton | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Cigarette excise tax.  Imposes an excise tax on cigarette manufacturers at a rate of 2 cents for each of the manufacturer's cigarettes sold in the Commonwealth. A cigarette manufacturer may claim as credit against any excise tax due (i) the Commonwealth's share of the manufacturer's contributions under the Master Settlement Agreement or (ii) for nonparticipating manufacturers, the net escrow deposits made each year for the manufacturer's cigarettes sold in the Commonwealth.


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