(1) As used in this section, "Colorado tax stamp" means a stamp that is affixed to, or an imprint or impression by a suitable metering machine approved by the department on a package containing cigarettes as evidence of the payment of tax imposed by this article 28, excluding the tax set forth in this section. (2) After January 1, 2022, in addition to any other tax imposed under this article 28 or section 21 of article X of the state constitution, there is levied a tax on cigarettes in a wholesaler's or wholesale subcontractor's possession or control that have a Colorado tax stamp that applies any time that the cigarette tax is increased. The tax is equal to the difference between the tax paid for the Colorado tax stamp currently affixed to a package of cigarettes and the tax that will be owed for the same Colorado tax stamp after the increase in the tax imposed per cigarette. It is unlawful for any person to affix a Colorado tax stamp on or after 12:01 a.m. on the day that a rate increase will take effect, to a package of cigarettes that reflects payment of the tax imposed prior to the increase. Any unaffixed stamps may be redeemed for credit pursuant to section 39-28-104 (3). (3) (a) After January 1, 2022, a wholesaler shall take an inventory of all packages of cigarettes with a Colorado tax stamp affixed thereto and of all unaffixed Colorado tax stamps in the wholesaler's possession or control as of 12:01 a.m. on the day that a rate increase will take effect. (b) After January 1, 2022, a wholesale subcontractor shall take an inventory of all packages of cigarettes with a Colorado tax stamp affixed thereto in the wholesale subcontractor's possession or control as of 12:01 a.m. on the day that a rate increase will take effect. (4) Every wholesaler and wholesale subcontractor shall file a report, on a form created by the department, of the inventory identified in accordance with subsection (3) of this section and pay the tax imposed under this section for the inventory. A wholesaler shall separately identify the number of packages with a Colorado tax stamp and the unaffixed Colorado tax stamps. The wholesaler or wholesale subcontractor shall remit the tax payment on or before the tenth day of the month following the required inventory. If payment is made on or before the due date, the wholesaler or wholesale subcontractor may deduct three percent of the tax imposed under this section, but, if any wholesaler or wholesale subcontractor is delinquent in remitting such payment, other than in unusual circumstances shown to the satisfaction of the executive director of the department, the wholesaler or wholesale subcontractor shall not be allowed to retain any amounts to cover the expense in collecting and remitting the tax and the penalty imposed under section 39-28-108 (2) applies. (5) The department may require wholesalers and wholesale subcontractors to use electronic funds transfers to remit tax payments due under this section and may require wholesalers and wholesale subcontractors to file tax returns electronically. The department may promulgate rules governing electronic payment and filing.
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