Revises the Internal Revenue Code in order to change the bracket tax on cigars to an ad valorem tax. States that the tax on cigars weighing more than three pounds per thousand shall be eight and one-half percent of the wholesale price but not more than $20 per thousand.
Defines wholesale price as manufacturer's suggested delivered price, at which the cigars are to be sold to retailers, inclusive of the tax imposed by this Act, but exclusive of any State or local taxes imposed on cigars as a commodity.
Provides that records of manufacturers shall be available for inspection by any internal revenue officer during business hours.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
Reported to House from the Committee on Ways and Means with amendment, H. Rept. 94-1262.
Reported to House from the Committee on Ways and Means with amendment, H. Rept. 94-1262.
Measure called up under motion to suspend rules and pass in House.
Measure considered in House.
Failed of passage/not agreed to in House: Measure failed of passage in House under suspension of rules, roll call #422 (269-138).
Roll Call #422 (House)Measure failed of passage in House under suspension of rules, roll call #422 (269-138).
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