27-70-7 - Fee; rate; increase. - Mississippi Statutes

§ 27-70-7. Fee; rate; increase.
 

(1)  Except as provided by subsection (2) of this section, the fee is imposed at the rate of One and Twenty-five One-hundredths Cent (1.25›) for each nonsettling-manufacturer cigarette. 

(2)  On January 1 of each year, the fee prescribed by subsection (1) of this section shall increase by the greater of: 

(a) Three percent (3%); or 

(b) The percentage increase in the most recent annual revised Consumer Price Index for all Urban Consumers, as published by the Federal Bureau of Labor Statistics of the United States Department of Labor. 

(3)  The revenue collected from the fee imposed by this section shall be deposited into the State General Fund.  
 

Sources: Laws, 2009, 2nd Ex Sess, ch. 85, § 4, eff from and after July 1, 2009.