Missouri Contemplates New Tobacco Tax

JEFFERSON CITY, Mo. (AP) __ A proposed Missouri ballot measure would ask voters whether to raise taxes on cigarettes made “by certain tobacco product manufacturers.”

But the tax would not apply to the biggest tobacco companies. Instead, it would target primarily smaller companies that sell cigarettes at the cheapest prices.

The measure would affect only those companies that were not part of a 1998 settlement among big tobacco firms and attorneys general in 46 states.

That settlement calls for participating tobacco companies to pay more than $200 billion over 25 years to states. Laws enacted in those states also require companies that did not participate in the settlement to pay money into escrow funds based on the amount of cigarettes they sell. Much of those escrow payments are refunded back to those companies.

Copyright The Associated Press

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS St. Louis

Live Inspired
Photography In A Flash

Listen Live