FEDERAL TOBACCO AND EXCISE TAXES

The Internal Revenue Code imposes an excise tax on tobacco products (like cigars, snuff tobacco, or cigarettes) manufactured in, or imported into, the United States, with the tax rates varying based on the type of tobacco product. Moreover, the Internal Revenue Code requires manufacturers and importers of tobacco products to post a bond to ensure the collection of tax, apply and receive a permit before engaging in business, meticulously track inventory, properly pack and label tobacco products, follow specific record-keeping requirements, and pay special occupational taxes.

The extensive regulation of the manufacture or importation of tobacco products by the Internal Revenue Code can be daunting for businesses that are unfamiliar with its requirements. In addition to being complex, the regulatory regime imposes penalties that can be severe and unforgiving.

One misstep can lead a tobacco manufacturing or importing business into a crippling mire of penalties and tax liability.

The tax attorneys at Fuerst Ittleman David & Joseph have extensive experience advising manufacturers and importers of tobacco products with their obligations under the Internal Revenue Code. We can assist your business with creating and implementing an effective, efficient structure that will allow your business to meet all of its regulatory requirements without diminishing its operations.

Further, if your business has already encountered issues regarding its excise tax or other regulatory obligations, our tax attorneys have experience resolving issues with the agency that administers federal tobacco excise taxation, the Alcohol and Tobacco Tax and Trade Bureau (TTB). We have advised clients through TTB audits, assisted clients with working out installment agreements or offers in compromise to settle back tax liability, and have negotiated reduced penalties on behalf of clients. Additionally, we have advised clients with respect to their refund rights resulting from destroyed tobacco products.

These are just a few of the federal tobacco and excise tax matters that the tax attorneys at Fuerst Ittleman David & Joseph can help your business with. As always, your matter will receive our utmost attention and will be handled as quickly, efficiently, and thoroughly as possible.

For more information, please contact us at contact@fuerstlaw.com or call us directly at 305-350-5690.