§ 59-14-304. Transitional inventory tax on tobacco products -- Penalties and interest for failure to comply.

(1) In addition to the tax described in Section 59-14-302, there is imposed, beginning on July 1, 2010, an inventory tax on all tobacco products subject to the tax described in Section 59-14-302, upon the sale, use, or storage of those tobacco products in the state, as follows:

(a) the tax imposed in this section applies only to tobacco products sold, used, or stored in the state on or after July 1, 2010:

(i) for which the tax was paid at the tax rate imposed under Section 59-14-302 that was applicable on June 30, 2010; and

(ii) for which the tax imposed in this section has not been paid; and

(b) the tax imposed in this section is equal to the difference between:

(i) the tax imposed on those tobacco products under Section 59-14-302, beginning on July 1, 2010; and

(ii) the tax imposed on those tobacco products under Section 59-14-302 on or before June 30, 2010.

(2) The tax imposed in this section shall be paid by the manufacturer, jobber, distributor, wholesaler, or retailer.

(3) A person described in Subsection (2) shall remit the tax imposed in this section, in a return prescribed by the commission, on or before July 31, 2010.

(4) Failure of a person to comply with the requirements of this section subjects the person to the penalties and interest described in Sections 59-1-401 and 59-1-402.

(5) The commission may not waive the interest or penalties imposed on a person for failure to comply with the requirements of this section.

Amended by Chapter 407, 2010 General Session, (Coordination Clause)
Enacted by Chapter 415, 2010 General Session