Key Votes
H 4645 - Cigarette Tax Increase - Key Vote
Massachusetts Key Votes
Stages
Family
Issues
Stage Details
Legislation - Bill Passed (Senate) (31-6) - May 6, 2008 (Key vote)
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).
Note:
NOTE: The Senate Ways and Means Committee amended the bill text and changed the bill number from H 4645 to S 2675, and after the bill was passed the Senate, it was reprinted as amended and the bill number was changed to S 2685.
Legislation - Bill Passed (House) (131-23) - April 10, 2008 (Key vote)
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).
Note:
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.
Legislation - Introduced (House) - April 2, 2008
Title: Cigarette Tax Increase
Committee Sponsors
- Revenue (Sponsor)
