(A) There is hereby levied and imposed by the town, in addition to any other taxes which may be or have been imposed, a tax to be paid and collected as provided in this subchapter on each and every sale of cigarettes made in the town. The tax is to be paid by the seller, dealer or other agent by affixing a stamp, or causing a stamp to be affixed to every package of cigarettes, in the kind and manner required in this subchapter and at the applicable rates as follows: The rate or amount of tax levied or imposed on cigarettes shall be at the rate of $0.27 for each 20 cigarettes or fractional part thereof.
(B) In the event that the rate stated herein is increased by act of the Town Council, any person with unsold inventory to pay the tax increase on the unsold inventory by filing a return within one calendar year after the increase rather than requiring the use of a stamp or meter impression. Such return shall identify the amount of unsold inventory, the amount of tax paid on such unsold inventory, and the amount of tax due as a result of the tax rate increase. Such return shall be due 6 calendar months after the effective date of the tax rate increase. For purposes of this subsection, UNSOLD INVENTORY means cigarettes held prior to the tax rate increase.
(Ord. passed 5- -2022)