Illinois lawmakers have approved a 75-cent cap on excise taxes for premium cigars, effective Jan. 1. The cap will apply to retail and remote sales.
“This legislative initiative in Illinois is living proof of what perseverance and consistency can bring to the passage of beneficial legislation for the premium cigar industry,” Glynn Loope, director of state advocacy for the Premium Cigar Association, said in a press release. “In addition, the leadership of Phil Ledbetter and Mike Gold of Arango was critical to the success of this measure. Illinois now joins an exclusive club of states that have recognized a tax cap as an economically beneficial step in tax policy.”
This was one of the first successful uses of the new PCA and CAA tax cap study analysis, according to the PCA, which provided definitive data on projected tax benefits if a cap were put in place
