§ 44-20-12.3 - Floor stock tax on cigarettes and stamps.
SECTION 44-20-12.3
§ 44-20-12.3 Floor stock tax on cigarettesand stamps. – (a) Whenever used in this section, unless the context requires otherwise:
(1) "Cigarette" means and includes any cigarette as definedin § 44-20-1(2);
(2) "Person" means and includes each individual, firm,fiduciary, partnership, corporation, trust, or association, however formed.
(b) Each person engaging in the business of sellingcigarettes at retail in this state shall pay a tax or excise to the state forthe privilege of engaging in that business during any part of the calendar year2009. In calendar year 2009, the tax shall be measured by the number ofcigarettes held by the person in this state at 12:01 a.m. on April 10, 2009 andis computed at the rate of fifty (50.0) mills for each cigarette on April 10,2009.
(c) Each distributor licensed to do business in this statepursuant to this chapter shall pay a tax or excise to the state for theprivilege of engaging in business during any part of the calendar year 2009.The tax is measured by the number of stamps, whether affixed or to be affixedto packages of cigarettes, as required by § 44-20-28. In calendar year2009 the tax is measured by the number of stamps, as defined in §44-20-1(10), whether affixed or to be affixed, held by the distributor at 12:01a.m. on April 10, 2009, and is computed at the rate of fifty (50.0) mills percigarette in the package to which the stamps are affixed or to be affixed.
(d) Each person subject to the payment of the tax imposed bythis section shall, on or before April 20, 2009, file a return with the taxadministrator on forms furnished by him or her, under oath or certified underthe penalties of perjury, showing the amount of cigarettes or stamps in thatperson's possession in this state at 12:01 a.m. on April 10, 2009, and theamount of tax due, and shall at the time of filing the return pay the tax tothe tax administrator. Failure to obtain forms shall not be an excuse for thefailure to make a return containing the information required by the taxadministrator.
(e) The tax administrator may promulgate rules andregulations, not inconsistent with law, with regard to the assessment andcollection of the tax imposed by this section.