Mississippi DOR Issues Excise Tax Notice to Tobacco Wholesalers Regarding Reinstatement of Settling Manufacturer Agreement

The Mississippi Department of Revenue (DOR) Aug. 29 issued an excise tax notice to tobacco wholesalers regarding the reinstatement of the tobacco settlement agreement with Liggett & Myers Incorporated. The DOR provides that: 1) cigarette manufacturers that are parties to the tobacco settlement agreement are exempt from the tobacco equity tax known as the nonsettling manufacturer fee, or NSM fees; 2) effective Aug. 12, the state and Liggett & Myers have reinstated their settlement agreement; 3) Liggett & Myers is a party to the tobacco settlement agreement and shall be considered a settling manufacturer exempt from payment of the tobacco ...