Title: Food and Tobacco Taxes
Title: Food and Tobacco Taxes
Vote to pass a bill that raises the excise tax on cigarettes to $.05 per cigarette and requires that $1,304,244 of the tobacco tax revenue be deposited in the Education Enhancement Fund and $325,738 be deposited in the School Ad Valorem Tax Reduction Fund. The bill also reduces the tax rate on non-prepared foods to 3.5 percent and raises the percentage of sales tax collected and distributed on retail sales of such foods within municipalities to 18.5 percent.
Title: Food and Tobacco Taxes