HB 997 Summary

• Removes the Department of Revenue from operating as a wholesale distributor of alcoholic beverages and creates a new wholesaler's permit system allowing private entities to distribute alcoholic beverages to retailers statewide.

• Requires wholesaler's permit holders to file monthly sales reports with the Department of Revenue, maintain records of all transactions, and comply with uniform pricing requirements with volume discounts allowed.

• Imposes an annual $5,000 privilege tax on wholesaler's permit holders and an 18% excise tax on gross wholesale sales proceeds, with monthly payment due by the 15th of the following month.

• Establishes payment terms requiring retailers to pay wholesalers by the 25th of the month for purchases made the 1st-15th, or by the 10th of the following month for purchases made the 16th-31st, with restrictions on credit and delinquent account reporting requirements.

• Requires all alcoholic beverages to be warehoused in Mississippi for at least 48 hours before delivery to retailers and repeals certain provisions related to the Department of Revenue's shipping fees and the Festival Wine Permit effective dates specified in the legislation.