59-14-104. Rate reduction for modified risk tobacco products.
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Effective 7/1/2020
59-14-104. Rate reduction for modified risk tobacco products.
(1)Beginning July 1, 2021, the tax imposed under this chapter is reduced in accordance with Subsection
(2):
(a)on the first day of a calendar quarter; and
(b)after a 90-day period beginning on the day on which the commission receives a notice from the manufacturer of a product that has received a modified risk tobacco product order from the United States Food and Drug Administration.
(2)The tax imposed under this chapter is reduced by:
(a)50% for any product that is issued a modified risk tobacco product order under 21 U.S.C. Sec. 387k(g)(1); and
(b)25% for any product that is issued a modified risk tobacco product order under 21 U.S.C. Sec. 387k(g)(2).
Enacted by Chapter 347 , 2020 General Session