The New York Cigarette Use Tax Return is a form used by businesses in New York to pay taxes on the sale of cigarettes and other tobacco products. The form must be filed with the New York State Department of Taxation and Finance on or before the 20th of the month following the month of sale. Businesses must report the number of cigarettes sold, the amount of tax due, and any applicable discounts or refunds. There are two types of New York Cigarette Use Tax Return: Form CT-203 (Non-Participating Manufacturer Return) and Form CT-203-ATT (Participating Manufacturer Return). Both forms require the reporting of the same information, but the Participating Manufacturer Return also requires additional information regarding the manufacturer’s participation in the Tobacco Master Settlement Agreement.
New York Cigarette Use Tax Return
Description
How to fill out New York Cigarette Use Tax Return?
How much time and resources do you normally spend on drafting official paperwork? There’s a greater option to get such forms than hiring legal experts or spending hours searching the web for a suitable template. US Legal Forms is the leading online library that offers professionally designed and verified state-specific legal documents for any purpose, such as the New York Cigarette Use Tax Return.
To acquire and complete an appropriate New York Cigarette Use Tax Return template, adhere to these simple steps:
- Look through the form content to make sure it complies with your state requirements. To do so, read the form description or utilize the Preview option.
- If your legal template doesn’t meet your needs, find a different one using the search tab at the top of the page.
- If you are already registered with our service, log in and download the New York Cigarette Use Tax Return. Otherwise, proceed to the next steps.
- Click Buy now once you find the correct blank. Opt for the subscription plan that suits you best to access our library’s full opportunities.
- Register for an account and pay for your subscription. You can make a payment with your credit card or via PayPal - our service is absolutely reliable for that.
- Download your New York Cigarette Use Tax Return on your device and complete it on a printed-out hard copy or electronically.
Another advantage of our library is that you can access previously purchased documents that you securely keep in your profile in the My Forms tab. Pick them up at any moment and re-complete your paperwork as frequently as you need.
Save time and effort completing formal paperwork with US Legal Forms, one of the most reliable web services. Sign up for us now!
Form popularity
FAQ
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.
Exemptions from the cigarette use tax ? the cigarettes being used are brought into New York State (or into New York State and New York City) on or in the possession of the user, and the number of cigarettes does not exceed 400 (i.e., two cartons or less of standard packages of cigarettes).
The above table does not include the federal excise tax on cigarettes of $1.01 per pack, cigarette taxes levied by individual municipalities (such as New York City, Chicago, and Anchorage), or sales taxes levied in addition to the retail price and excise taxes.
Funding Critical Health Programs Federal Level: On the federal level, revenue from cigarette and tobacco taxes helps fund programs that support children and adults across the country, including the Children's Health Insurance Program (CHIP).
No Federal Deductibility State taxpayers cannot write off cigarette taxes on their federal tax returns, as they can with broad-based taxes on property, sales, or income. This means that when state residents pay a dollar in cigarette taxes, the entire dollar comes out of their pockets.
The state excise tax rate is $4.35 per package of 20 cigarettes. The New York City local excise tax is $1.50 per package of 20 cigarettes, bringing the combined tax rate for a package of 20 cigarettes purchased in New York City to $5.85.
A tobacco tax or cigarette tax is a tax imposed on tobacco products, with the state goal of reducing tobacco use and its related harms. Due to the price inelasticity of demand for addictive products such as tobacco, these taxes have a relatively small effect in reducing tobacco use.
Retailers cannot sell cigarettes, cigars, chewing tobacco, powdered tobacco, shisha or other tobacco products, herbal cigarettes, liquid nicotine, electronic cigarettes, rolling papers, or smoking paraphernalia to people under 21 years of age.