Senate Bill 0466
DIGEST OF SB466 (Updated February 20, 2007 4:45 pm - DI 84)
Cigarette taxes and tobacco products taxes. Provides a cigarette tax credit to a cigarette distributor for an uncollectible debt to the extent that the uncollectible debt: (1) is included in the cost of cigarette tax stamps purchased by the distributor; and (2) resulted from a transfer of cigarettes to a retailer. Provides a tobacco tax deduction to a tobacco products distributor from the tobacco products tax for uncollectible debts resulting from wholesale sales of tobacco products.
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