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How Tennessee collects tobacco tax: 62¢ stamp per 20-pack and 6.6% OTP rate
Summary
Revenue presenters explained wholesalers must affix a 62¢ stamp on a 20-pack of cigarettes, and other tobacco products (OTP) are taxed at 6.6% of wholesale cost and remitted monthly via TinTAP.
Katie Julian, the webinar host, described how Tennessee administers the tobacco tax: wholesalers purchase and affix stamps to cigarette packs ("the amount there is 62¢ for a pack of 20") and remit tax on other tobacco products (OTP) on a monthly return at 6.6% of wholesale cost.
Katie walked viewers through a slide that illustrated the different collection methods and tax rates for wholesale cigarettes, little cigars and OTP. She also previewed the tobacco tax return and said the department will go into more detail on the return later in the webinar.
