44th legislature - STATE OF NEW MEXICO - second session, 2000

RELATING TO ALCOHOLIC BEVERAGE SALES; PROHIBITING BELOW-COST SALES; ESTABLISHING A MINIMUM PERCENT MARKUP.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. A new section of the Liquor Control Act is enacted to read:

"[NEW MATERIAL] RETAIL PACKAGE SALES--MINIMUM MARKUP REQUIREMENT.--

A. No licensee shall sell alcoholic beverages in unbroken packages at retail for less than twenty percent above the wholesale price listed for the alcoholic beverage in the calendar month preceding the month of sale in the nationally circulated alcoholic beverage industry publication Beverage Analyst.

B. A retailer shall retain purchase and sales records of all alcoholic beverages sold in unbroken packages for two years following the sale of the item. Information adequate to identify the contents, brand, lot and the purchase and sale prices of the item shall be clearly set forth on the records.

C. A wholesaler shall retain sales records for two years following delivery of the item for retail sale. Information adequate to identify the contents, brand, lot and the purchase and sale price of the item shall be clearly set forth on the records.

D. The department may audit the records of a retailer or wholesaler upon twenty-four hours' notice during any work day."