MS HB1486

Manufacturers and wholesale dealers prohibited from selling tobacco products to retailers except for cash or cash-equivalent terms; credit sales are not allowed.

Vendors must notify the Commissioner of Revenue within five business days if payment is not received when due or a check is returned for insufficient funds, and the commissioner must notify all manufacturers and wholesalers of the default.

Retailers in default must pay their obligation in full within 30 days or face permit suspension for up to 30 days per offense; permit can be permanently revoked if suspended for default for more than six months in any 12-month period.

Commissioner may require retailers in default to make cash-only payments for all subsequent tobacco products and must notify all manufacturers, wholesalers, and distributors when a retailer's permit is suspended or revoked.

Conforms Section 97-32-5 regarding tobacco sales to minors to reference the Department of Revenue instead of the Tax Commission; act takes effect July 1, 2020.