Massive New Mexico Tax Increase Defeated

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A bill in Mexico that would have tripled the state’s tax on cigars has been defeated.

The New Mexico House Taxation and Revenue Committee voted against S.B. 231, which would have increased the taxes on cigars and other tobacco products from 25 to 76 percent of the wholesale price. A cigar with a MSRP of $9.50 likely retails for around $11.88 before sales tax in New Mexico. Had S.B. 231 passed, that would have risen to $16.72 before sales taxes.

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S.B. 231 was passed by the New Mexico Senate earlier this month.

If passed, New Mexico would have had the second highest tax rate of any state after Utah, which currently taxes tobacco products at 86 percent of the wholesale price.

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Charlie Minato
About the author

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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