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TOBACCO SETTLEMENT PROGRAM___ UPMC ColeTobacco Settlement Payment Data Year 2024___ November 2023November 1, 2023 Mr. Ron Rapp Chief Financial Officer UPMC Cole 1001 East Second Street Coudersport,
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What is master settlement agreement?
The Master Settlement Agreement (MSA) is a legal agreement reached in 1998 between the tobacco industry and 46 U.S. states, which resolved lawsuits aimed at recovering state Medicaid costs for treating smoking-related illnesses. It established a framework for the regulation and taxation of tobacco products, as well as funding for anti-smoking campaigns.
Who is required to file master settlement agreement?
Tobacco manufacturers and distributors that sell cigarettes in the participating states are typically required to comply with the provisions of the Master Settlement Agreement and file necessary reports and payments.
How to fill out master settlement agreement?
Filling out the Master Settlement Agreement involves completing specific forms provided by the relevant state authorities, which may include reporting sales data, calculating payments due as per the MSA formula, and ensuring all required information is accurately provided, following state guidelines.
What is the purpose of master settlement agreement?
The purpose of the Master Settlement Agreement is to reduce tobacco use, particularly among youth, by imposing regulations on advertising, increasing public awareness about the dangers of smoking, and providing states with funds to cover healthcare costs associated with smoking-related illnesses.
What information must be reported on master settlement agreement?
Information that must be reported under the Master Settlement Agreement includes total sales of cigarettes, payments made to states, and compliance with advertising and promotional restrictions outlined in the agreement.
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