Tenn. Comp. R. & Regs. 1320-04-03-.12 - MINIMUM SALES PRICE

(1) Minimum sales prices established by a wholesaler and/or a retailer in compliance with the provisions of T.C.A. §§ 47-25-301 through 47-25-312, shall apply to, as the case may be, a sale or offer for sale to or by any person, distributor, dealer, wholesaler, subjobber, or vending machine operator regardless of the quantity purchased. In establishing minimum selling price per carton of cigarettes at both wholesale and retail levels the statutory formula shall be applied to the basic cost, as defined in T.C.A. §§ 47-25-302. Minimum selling price of individual packages shall be determined by dividing the minimum carton selling price by the number of packages in a carton. Minimum selling prices so established shall be absolute minimum prices and the products may not be sold below such prices. Fractional cents may be advanced to the next highest cent but fractional cents, regardless of denomination, may not be lowered.

Notes

Tenn. Comp. R. & Regs. 1320-04-03-.12

Original rule certified June 7, 1974. Amendment filed April 30, 1975; effective May 30, 1975. Amendment filed April 15, 1987; effective July 29, 1987. Amendment filed January 29, 1988; effective April 27, 1988.

Authority: T.C.A. §§ 67-1-102 and 47-25-311.