A1554

Increases the presumed mark-up rate for retailers selling cigarettes in New Jersey.

This bill amends the "Unfair Cigarette Sales Act of 1952" by increasing the presumptive "cost of doing business by the retailer" from eight percent to 16 percent of the "basic cost of cigarettes" to the retailer. The change aims to modernize the calculation of retailers' presumed operating costs, reflecting increased inflation and labor and overhead expenses. The bill raises the presumed mark-up margin required by retailers in connection with cigarette sales.