A bill to amend sections 5701(a)(2) and 5702(m) of the Internal Revenue Code of 1954 to modify the base on which the tax on large cigars is imposed and to achieve a phased reduction in the tax rate.

openUnited States· United States Congress· EN

Introduced

20 May 1981

Last action

—

Status

Committee on Finance requested executive comment from OMB; Treasury Department.

Summary

Amends the Internal Revenue Code to reduce the excise tax on large cigars for fiscal years 1982 to 1983 and eliminate the tax thereafter. Revises the formula for determination of wholesale price, on which the excise tax is based.

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Documents

1 official file

Introduced in Senate
summary · EN · 20 May 1981
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/senate-bill/1236
Open data entity: https://api.congress.gov/v3/bill/97/s/1236