US: Minnesota Tax Bill Impacts Cigarette Prices

Source from:  Convenience Store Decisions  05/21/2013

Bill 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. Enditem