Governor Edwards Signs Tax Bills Into Law
Two bills raising taxes on cigarettes and tobacco dealers were signed into law Tuesday by Governor John Bel Edwards.
The first bill Edwards signed into law (HB14) raised the tax on a pack of cigarettes from 86 cents to $1.08.
Edwards and the author, Democrat Senator Walt Leger, say the bill will raise $11 million for the current fiscal year and $46 million per annum.
The other new law (HB18) reduces the amount of the discount tobacco dealers take for expenses related to tax collection.
The bill’s sponsor, Democrat Representative Jack Montoucet, predicts that $275,000 will be raised for the current budget, plus another $1.1 million annually.
Both bills go into effect on April 1.