63-2552. TAX IMPOSED — RATE. (1) From and after July 1, 1972, there is levied and there shall be collected a tax upon the sale, use, consumption, handling, or distribution of all tobacco products in this state at the rate of thirty-five per cent (35%) of the wholesale sales price of such tobacco products. Such tax shall be imposed at the time the distributor (a) brings, or causes to be brought, into this state from without the state tobacco products for sale, (b) makes, manufactures, or fabricates tobacco products in this state for sale in this state, or (c) ships or transports tobacco products to retailers in this state, to be sold by those retailers.
(2) A floor stocks tax is hereby imposed upon every distributor of tobacco products at the rate of thirty-five per cent (35%) of the wholesale sales price of each tobacco product in his possession or under his control on July 1, 1972.
Each distributor, within twenty (20) days after July 1, 1972, shall file a report with the commission, in such form as the commission may prescribe, showing the tobacco products on hand on July 1, 1972, and the amount of tax due thereon.
The tax imposed by this subdivision shall be due and payable within twenty (20) days after July 1, 1972, and thereafter shall bear interest at the rate of one per cent (1%) per month.
History:
[63-2552, added 1972, ch. 289, sec. 2, p. 725; am. 1974, ch. 173, sec. 1, p. 1432.]
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.