SB 31 - This act increases Missouri's excise tax on cigarettes from seventeen cents per pack to forty-three cents per pack beginning January 1, 2014. The revenue derived from the twenty-six cent increase will be deposited in the general revenue fund. This increase in Missouri's excise tax shall not apply to the cigarette inventory in the possession of retailers and wholesalers on December 31, 2013. The Department of Revenue is required to quit collecting the additional twenty-six cents, immediately, when the Secretary of State certifies any ballot issue that would increase any cigarette tax, and the Department of Revenue and the revisor of statutes are required to notify the public that this additional tax is repealed.
Beginning on January 1, 2014, the act modifies the individual income tax, so that the tax will be a flat rate of 4 percent.
This act also increases the state sales and use tax by one-half percent beginning on January 1, 2014. The revenue generated from the increase, except for the revenue directed by the Constitution to other purposes, is directed to a newly created fund to be used for the construction, reconstruction, rehabilitation, and maintenance of Interstate 70.
This act is similar to SB 638 (2012).