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Philip Morris USA Makes Master Settlement Agreement Payment of Approximately $4 billion
RICHMOND, VA (April 15, 2009) - 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 are advertised and marketed in the United States. The agreements include a variety of restrictions on the advertising and marketing of tobacco products, including prohibiting any participating manufacturer from taking any action, directly or indirectly, targeting youth in the advertising, marketing or promotion of tobacco products.
