Changes Proposed To Virginia Cigar Taxes
A bill in the Virginia House of Delegates could change the way premium cigars are taxed in the state. Rep. Hyland “Buddy” Fowler, R-Richmond, has introduced H.B. 1277, which would abandon the 10 percent wholesale tax currently imposed on premium cigars in favor of a new tax that would be at 6.25 percent of the price charged to the end consumer.
The change would almost certainly reduce prices, although it a rather minimal level. Using the most rudimentary of typical cigar store margins, a cigar carrying an msrp of $10 would be reduced by less than 40 cents.
Charlie Minato
I am an editor and co-founder of halfwheel.com/Rueda Media, LLC. I previously co-founded and published TheCigarFeed, one of the two predecessors of halfwheel. I handle the editing of our written content, the majority of the technical aspects of the site and work with the rest of our staff on content management, business development and more. I’ve lived in most corners of the country and now entering my second stint in Dallas, Texas. I enjoy boxing, headphones, the Le Mans 24-hour, wearing sweatshirts year-round and gyros. echte liebe.
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