New York Wholesale Dealer of Cigarettes Informational Return is a form used by cigarette wholesalers in New York State to report information on cigarette purchases and sales to the New York State Department of Taxation and Finance. The form includes details about the cigarettes purchased, including brand, type, and quantity, as well as information on the seller and purchaser. There are three types of New York Wholesale Dealer of Cigarettes Informational Return: Form CT-240, Form CT-240A, and Form CT-240B. Form CT-240 is used when a wholesaler purchases cigarettes from another wholesaler or manufacturer. Form CT-240A is used when a wholesaler purchases cigarettes from an out-of-state source. Form CT-240B is used when a wholesaler sells cigarettes to a retailer.
New York Wholesale Dealer of Cigarettes Informational Return
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FAQ
If you are unlicensed and you transport, possess, sell, or attempt to sell 30,000 or more unlawfully stamped or unstamped cigarettes, you can be charged with a Class D felony.
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.
Beware of these laws and make sure you stay under the 1 gallon limit for alcohol and the 5 carton limit for tobacco.
Cigarettes are required be sold in quantities of no less than 20. The sale of loose cigarettes was outlawed because of Loosies' potential appeal to children. Loosies are commonly found in low-income areas. The high cost of cigarettes due to increased taxation has been blamed for increased sales of loosies.
To sell tobacco products and electronic cigarettes in NYC, you must have the relevant licenses and registration. To sell cigarettes and tobacco products, including heated tobacco products, you must have a City-issued tobacco retail dealer license and a State-issued valid registration.
Sales of cigarettes, other tobacco products or electronic cigarettes to people under age 21 can result in New York City fines of up to $1,000 for the first violation and any other violation found that same day, and up to $2,000 for the second violation and any subsequent violation within three years.
New York State and New York City impose an excise tax on all cigarettes possessed in the state for sale. The state excise tax rate is $4.35 per package of 20 cigarettes.