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In 2014, the Indiana state legislature passed a law that cut the corporate income tax from 8.50% in 2014 to 6.25% in 2016, with further decreases to be phased in until the rate falls to 4.9% in 2022. [5] Indiana is the only state that imposes corporate income taxes based on fiscal year instead of calendar year.
A cigarette tax stamp is a specific example of a revenue stamp. The 1978 Contraband Cigarette Act prohibits the transport, receipt, shipment, possession, distribution, or purchase of more than 60,000 cigarettes (300 cartons) not bearing the official tax stamp of the U.S. state in which the cigarettes are located.
On February 4, 2009, the Children's Health Insurance Program Reauthorization Act of 2009 was signed into law, which raised the federal tax rate for cigarettes on April 1, 2009 from $0.39 per pack to $1.01 per pack. [7] The increase was to help cover the cost of increased coverage under the State Children's Health Insurance Program (SCHIP).
The FDA required that warnings about the risks of smoking occupy the top 50% of cigarette packs and top 20% of advertisements. The regulation is technically in effect, but the FDA has generally ...
In the United States, Indiana and Kentucky tax rolling papers. Kentucky set its tax at $0.25 per pack (for up to 32 leaves, larger packs are taxed at $0.0078 per leaf) in 2006 despite complaints from manufacturers. Louisiana Revised Statute 47:338.261 allows up to $1.25 per pack at retail.
Indiana's alcohol laws have changed a few times over the years, most recently this year, when the happy hour ban was lifted. Here's what to know.
A federal requirement that cigarette packs and advertising include graphic images demonstrating the effects of smoking — including pictures of smoke-damaged lungs and feet blackened by ...
The tax equals $1.01 per pack of 20 of cigarettes. Federal excise tax revenue from tobacco products peaked in fiscal year 2010 at $17.2 billion after the increase in tobacco product tax rates in the Children's Health Insurance Program Reauthorization Act of 2009. This tax increase, which took effect in April 2009, was the most recent time ...