Minnesota Tax Bill Impacts Cigarette Prices

cigarettesmoneyBill to raise $2.1 billion in new revenue.

The Minnesota House has passed a tax bill that would include a $1.60 per pack cigarette tax increase, and up the OTP tax rate to 95%, greatly impacting retailers who sell tobacco products in the state.

The bill could raise revenue $2.1 billion and would also up taxes on high-wage earners and corporations. Representatives passed the bill by a 69-65 vote early Monday morning, May 20, the Minnesota Pioneer Press reported.

The bill now heads to the Senate.

 

 

 

 

  • http://www.facebook.com/profile.php?id=1494439155 Rex River

    TO ALL MN’s….who smoke…QUIT NOW…so the STATE GET’S NO MORE TAX REVENUE, STOP helping a BILLIONAIRE build his Stadium….He’s got enough money to build his own…

  • Will

    My wife and I have saved over $1930/year by just buying from AAA Tobacco because of how crazy cigarette taxes have gotten, and the money stays in the hands of small business owners in the US.

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