US: Cigar Taxes In Michigan Changing Effective Today

Source from:  Convenience Store Decisions  11/02/2012

Taxes on premium cigars are changing in Michigan, effective today, Nov. 1, the National Associate of Tobacco Outlets (NATO) reported.
 
Cigars that cost $1.5625 or more each will be taxed at a rate of 50 cents per cigar. Cigars that cost less than $1.5625 each will continue to be taxed at 32% of the wholesale price of the cigars.

 
This change also requires modifications to be made to the Manufacturer, Wholesaler and Unclassified Acquirer tax returns for the tax periods beginning Nov. 1, 2012.
 
Licensees who file by ASCII/Excel spreadsheets will have the opportunity to have their file tested prior to their first filing of the new tax returns.
 
A retailer who is licensed as an Unclassified Acquirer—retail importer of tobacco products other than cigarettes—in Michigan must now post a sign visible to the public inside the retail establishment that informs purchasers of cigars through catalog sales or Internet sales of their responsibility to pay all applicable unpaid state taxes on those cigars. This requirement also takes effect today. Enditem