H 4645 - Cigarette Tax Increase - Massachusetts Key Vote
Denise Provost voted Yea (Passage) on this Legislation.
Timeline
- Senate Bill Passed
- May 6, 2008
- House Bill Passed
- April 10, 2008
- Introduced
- April 2, 2008
Related Legislation
Related Issues
Stage Details
Title: Cigarette Tax Increase
Vote Smart's Synopsis:
Vote to pass a bill that increases the per-pack cigarette tax from $1.51 to $2.51 and changes business tax rules.
Highlights:
-Lowers the excise tax for certain corporations classified as financial institutions from 10.5% to 9% by 2012 (Sec. 32). -Prohibits corporations in a group under common ownership from benefiting from any duplicate inclusion or deduction of income or loss (Sec. 52). -Repeals current laws that prohibit retailers from competitively pricing cigarettes (Sec. 94).
Title: Cigarette Tax Increase
Vote Smart's Synopsis:
Vote to pass a bill that increases the per-pack cigarette tax from $1.51 to $2.51 and changes business tax rules.
Highlights:
-Lowers the excise tax on certain financial institutions from 10.5% to 9.0% by 2010 (Sec. 27A). -Changes the formula for the excise tax on corporations so that by 2010 the rate is equal to $2.60 per $1,000 of the corporations net worth plus 7.5% of the corporations taxable net income (Sec. 81).
More Info About this Vote
NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.
Title: Cigarette Tax Increase
Committee Sponsors
- Joint Committee on Revenue (Sponsor)