Doubles the tax on other tobacco products (noncigarette smoking tobacco and smokeless tobacco other than moist snuff) from 32% of wholesale price to 64% --taxes little cigars like cigarettes --taxes moist snuff based on weight (a tax increase on cheaper brands) --imposes the tax increases on all tobacco inventory held by licensees and retailers --does not increase the collection allowance for licensees --creates the Michigan Future Fund and earmarks new revenue to the fund for: revenue sharing, promise grants, aid to libraries, PILT payments and school aid
Is this sort of like how lotto money will help fund education? Seriously. That is a ridiculously high tax margin.
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