From State Senator Bob Mensch
Legislation I sponsored to adjust the retailer presumptive minimum price of cigarettes formula became law with enactment this week of the 2016-17 Fiscal Code.
I introduced the measure as Senate Bill 691, which was approved by the Senate before being amended into the Fiscal Code and being signed into law.
The retailer presumptive minimum price of cigarettes formula was established more than 60 years ago. The legislation adjusts the rate from 6 percent to 7 percent for retailers who have had no price adjustment in the history of the law.
The legislation benefits thousands of retail licensees that will see their cash flow enhanced. The Department of Revenue will also have a clearer paper trail in the event of an audit and sales tax collections. In addition, it will further assist in collection of the Philadelphia school tax.
SB 691 was supported by the Pennsylvania Food Merchants and the Pennsylvania Distributors Association.
I introduced the measure as Senate Bill 691, which was approved by the Senate before being amended into the Fiscal Code and being signed into law.
The retailer presumptive minimum price of cigarettes formula was established more than 60 years ago. The legislation adjusts the rate from 6 percent to 7 percent for retailers who have had no price adjustment in the history of the law.
The legislation benefits thousands of retail licensees that will see their cash flow enhanced. The Department of Revenue will also have a clearer paper trail in the event of an audit and sales tax collections. In addition, it will further assist in collection of the Philadelphia school tax.
SB 691 was supported by the Pennsylvania Food Merchants and the Pennsylvania Distributors Association.
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