59-14-104. Rate reduction for modified risk tobacco products.
(1) Beginning July 1, 2021, the tax imposed under this chapter is reduced in accordance with Subsection (2):
(a) on the first day of a calendar quarter; and
(b) after a 90-day period beginning on the day on which the commission receives a notice from the manufacturer of a product that has received a modified risk tobacco product order from the United States Food and Drug Administration.
(2) The tax imposed under this chapter is reduced by:
(a) 50% for any product that is issued a modified risk tobacco product order under 21 U.S.C. Sec. 387k(g)(1); and
(b) 25% for any product that is issued a modified risk tobacco product order under 21 U.S.C. Sec. 387k(g)(2).