TT-74 – Minimum markup update (2015)
To: Licensed Cigarette Wholesalers
Subject: Cigarette Sales Below Cost — Alternative Minimum Price
Pursuant to the Code of Maryland Regulations 03.02.03.07, several cigarette wholesalers have applied to sell cigarettes to retailers at less than the 5% markup as required under the Maryland Cigarette Sales Below Cost Act.
The lowest approved minimum markup percentage is .30%. This percentage is effective immediately statewide as the minimum legal markup until a lower percentage is approved, or April 30, 2013, whichever is earlier. All lower cost percentages approved for the 2013 license year will expire April 30, 2013.
The online Wholesaler Minimum Price Calculator can be accessed at www.marylandtaxes.com. The Wholesaler Alternate Price Calculator is also available at the same website for higher-than-minimum markup calculations.
Questions related to this bulletin can be directed to Ronald Gallant at 410-260-7716.
Jeffrey A. Kelly
Director