New York Tax and Finance Department Issues Notice of Price, Prepaid Sales Tax on Cigarettes

The New York Department of Taxation and Finance July 27 issued a public notice providing the base retail price adjustment calculation and the resulting base retail price of cigarettes to establish the prepaid sales tax on cigarettes. The base retail price is adjusted annually for sales and use tax purposes. The department provides that the base retail price adjustment factor for the period July 1, 2021, through June 30, 2022, is 1.036. Effective Sept. 1, the base retail price adjustment calculation results in a base retail price of: 1) $12.110 for a package of 20 cigarettes; and 2) $3.025 for ...