Last Minute Payment Leaves N.H. Cigarette Tax Unchanged October 6, 2008
News Summary
A cigarette tax increase was put on hold in New Hampshire when tax payments of more than $3 million were submitted by tobacco wholesalers 90 minutes before an automatic increase was to take effect, the Nashua Telegraph reported Oct. 2.
Prior to the last-minute infusion, tax levy totals were $2.4 million shy of the $50 million threshold legislators had designated in June as a trigger for increasing the cigarette tax by 25 cents per pack. Confirmation of the receipt of the new funds will keep the state's cigarette taxes from automatically being raised.
Cigarette sellers were instructed not to raise the taxes until state officials can determine the final total of the tax levy. The Department of Revenue has until Oct. 15 to finish an audit.
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