Chicago Cigarette Tax Increase
- Dec 18, 2013 | Gail Cole
Smoking in Chicago, Illinois, is about to get a bit more expensive. The City of Chicago has announced that the cigarette tax will increase from $0.034 to $0.059 per cigarette, effective January 10, 2014.
According to the City of Chicago, “The burden of this tax and specifically this tax increase is to be borne by the consumer of the cigarettes for all cigarettes purchased or consumed within the City of Chicago….”
The city is requesting that all cigarette wholesalers and retailers on January 9, 2014, at the close of business, “make a physical inventory” of all cigarette stamps, “which are either affixed to unsold cigarette packages or have yet to be affixed to cigarette packages, and for which the former cigarette tax rate was paid…. They must then remit a payment, which equals the amount of the increased tax rate to the Chicago Department of Finance.” The cost of those tax payments should be recovered by sales made on and after January 10, 2014.
Additional information is available on the City of Chicago Notice of Cigarette Tax Increase.
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