|
|
Article: Philip Morris USA Makes Master Settlement Agreement Payment of Approximately $4 billion.
- Article from:
- Marketing Weekly News
- Article date:
- May 9, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Philip Morris USA (PM USA) today made its full annual Master Settlement Agreement (MSA) payment of approximately $4 billion. Since 1997, PM USA has paid more than $47 billion to the states (MSA and Previously Settled States combined).
In addition to today's MSA payment, which is based on PM USA's 2008 cigarette sales volume, states collected almost $19.5 billion in state cigarette excise and sales tax revenue in 2008.
Along with the financial impact on the states, the Master Settlement Agreement and similar agreements with previously settled states created fundamental changes in how tobacco products ...