64:44:01:02Minimum

price on cigarettes. The distributor shall apply the following formulas to establish the minimum price on all brands of cigarettes the distributor sells in this state: (1) The basic cost to the distributor is the manufacturer's invoice price, less available manufacturer's discounts, plus the state cigarette excise tax; (2) The distributor may not sell cigarettes for less than four percent above their basic cost if cigarettes are sold to retailers at the distributor's warehouse; (3) If cigarettes are delivered to retailers, an additional one and one-half percent for cartage shall be added to the basic cost.

Source: SL 1975, ch 16, § 1; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995; 38 SDR 214, effective June 21, 2012.