370A.140 - Participation in Master Settlement Agreement or deposits into qualified escrow fund required. - Nevada Statutes

370A.140  Participation in Master Settlement Agreement or deposits into qualified escrow fund required.  A manufacturer of tobacco products that sells cigarettes to consumers in this state, directly or through a distributor, retailer or similar intermediary or intermediaries, after May 24, 1999, shall do one of the following:

      1.  Become a participating manufacturer and generally perform its financial obligations under the Master Settlement Agreement; or

      2.  Deposit into a qualified escrow fund, on or before April 15 of the year following the year in question, the following amounts as such amounts are adjusted for inflation:

      (a) For the year 1999, $0.0094241 for each unit sold after May 24, 1999;

      (b) For the year 2000, $0.0104712 for each unit sold;

      (c) For each of the years 2001 and 2002, $0.0136125 for each unit sold;

      (d) For each of the years 2003 through 2006, $0.0167539 for each unit sold; and

      (e) For each of the year 2007 and each year thereafter, $0.0188482 for each unit sold.

      (Added to NRS by 1999, 1108)