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New York Cigarette Use Tax Return

New York Cigarette Use Tax Return

Name: New York Cigarette Use Tax Return
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.58 (352 reviews)

Category:

New York Statewide - Dept of Taxation and Finance

State:

New York

Control #:

NY-CG-15

Format:

Instant download

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Description

Cigarette Use Tax Return The New York Cigarette Use Tax Return is a form used by businesses in New York to pay taxes on the sale of cigarettes and other tobacco products. The form must be filed with the New York State Department of Taxation and Finance on or before the 20th of the month following the month of sale. Businesses must report the number of cigarettes sold, the amount of tax due, and any applicable discounts or refunds. There are two types of New York Cigarette Use Tax Return: Form CT-203 (Non-Participating Manufacturer Return) and Form CT-203-ATT (Participating Manufacturer Return). Both forms require the reporting of the same information, but the Participating Manufacturer Return also requires additional information regarding the manufacturer’s participation in the Tobacco Master Settlement Agreement.

The New York Cigarette Use Tax Return is a form used by businesses in New York to pay taxes on the sale of cigarettes and other tobacco products. The form must be filed with the New York State Department of Taxation and Finance on or before the 20th of the month following the month of sale. Businesses must report the number of cigarettes sold, the amount of tax due, and any applicable discounts or refunds. There are two types of New York Cigarette Use Tax Return: Form CT-203 (Non-Participating Manufacturer Return) and Form CT-203-ATT (Participating Manufacturer Return). Both forms require the reporting of the same information, but the Participating Manufacturer Return also requires additional information regarding the manufacturer’s participation in the Tobacco Master Settlement Agreement.

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FAQ

Retailers cannot sell cigarettes, cigars, chewing tobacco, powdered tobacco, shisha or other tobacco products, herbal cigarettes, liquid nicotine, electronic cigarettes, rolling papers, or smoking paraphernalia to people under 21 years of age.

A tobacco tax or cigarette tax is a tax imposed on tobacco products, with the state goal of reducing tobacco use and its related harms. Due to the price inelasticity of demand for addictive products such as tobacco, these taxes have a relatively small effect in reducing tobacco use.

The state excise tax rate is $4.35 per package of 20 cigarettes. The New York City local excise tax is $1.50 per package of 20 cigarettes, bringing the combined tax rate for a package of 20 cigarettes purchased in New York City to $5.85.

No Federal Deductibility State taxpayers cannot write off cigarette taxes on their federal tax returns, as they can with broad-based taxes on property, sales, or income. This means that when state residents pay a dollar in cigarette taxes, the entire dollar comes out of their pockets.

Funding Critical Health Programs Federal Level: On the federal level, revenue from cigarette and tobacco taxes helps fund programs that support children and adults across the country, including the Children's Health Insurance Program (CHIP).

The above table does not include the federal excise tax on cigarettes of $1.01 per pack, cigarette taxes levied by individual municipalities (such as New York City, Chicago, and Anchorage), or sales taxes levied in addition to the retail price and excise taxes.

Exemptions from the cigarette use tax ? the cigarettes being used are brought into New York State (or into New York State and New York City) on or in the possession of the user, and the number of cigarettes does not exceed 400 (i.e., two cartons or less of standard packages of cigarettes).

The prepaid tax equals the base retail price of cigarettes, multiplied by the 8% prepaid sales tax rate. This is then rounded to the nearest cent for the pack of cigarettes. The base retail sales price, effective September 1, 2022, is $12.110 for a pack of 20 cigarettes and $3.025 for each additional five cigarettes.

More info

Online filing is a convenient method of filing cigarette and tobacco products tax forms (tax returns, informational reports, and schedules). CIGARETTE EXCISE TAX CALCULATIONS (Round cents to the nearest whole dollar.) 1.Tobacco Products Tax. NOTICE: The information included on this website is to be used only as a guide. Cigarette, Tobacco, and Vapor Products Forms ; Note: These forms must be electronically filed. Please go to My Tax Account. Use Tax and must complete Form RC-44, Cigarette Use. ATTN: Cigarette NPM, Cigarette Reporting, Cigarette PACT Act, Cigarette Stamping, Cigarette Wholesale, and Cigarette Fire Safety Account Holders. Tax Return and Payment. Other Tobacco Products Tax Return and Payment (online only) ; Tobacco Products Exemption Certificate.

New York Cigarette Use Tax Return

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