Ohio Tax Department Issues Information on Excise Tax Cap on Premium Cigars

The Ohio Department of Taxation April 19 issued information on the excise tax cap for premium cigars. The Tax Commissioner annually computes an adjustment factor, which is added to the statutory $0.50 cap to establish the maximum tax amount. Based on the current calculation, $0.04 is the adjustment factor. Therefore, effective July 1, $0.54 is the new maximum tax on premium cigars. [Ohio Dep’t of Tax’n, Excise & Energy Tax Division, OTP Premium Cigar Maximum Tax, 04/19/21]

Reference: View Source Document.