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Jul 22 2021

A new nicotine tax and an increased tax on cigarettes and other tobacco products in Colorado generated more than $34 million in their first five months, according to a data analysis by The Colorado Sun.

Proposition EE, which was passed by voters in November, went into effect in January, raising the taxes on a pack of cigarettes to $1.94 from 84 cents. The ballot measure will continue to increase nicotine, tobacco and cigarette taxes in Colorado through 2027, when they level out.

By comparison, Colorado collected about $187 million in cigarette and tobacco taxes in the 2019-20 fiscal year.

Read the entire article here.