Posted By: admin | Mon, 07/10/2017 - 09:18 | 0
Effective July 1, 2017, the OTP tax on each cigar that qualifies as a premium cigar shall be the lesser of 17% or the maximum tax amount of $.50 per cigar. In response to the statutory change, the Department will make available on its website an updated OTP tax return for the timely filing of the returns due for the July 2017 period (August 23, 2017).
Amend. Sub. H.B. 49 amends R.C. 5743.01 and adds the following definition of “premium cigar”: (Q) "Premium cigar" means any roll for smoking, other than cigarettes and little cigars, that is made wholly or in part of tobacco and that has all of the following characteristics: (1) The binder and wrapper of the roll consist entirely of leaf tobacco. (2) The roll contains no filter or tip, nor any mouthpiece consisting of a material other than tobacco. (3) The weight of one thousand such rolls is at least six pounds.
Simplify tobacco tax compliance in all 50 states with AviorData automated tax compliance software. Learn how it works.