Glossary

Control State: Similar to a monopoly structure where the state functions as the wholesaler and/or retailer for both wines and spirits
FET: Federal Excise Tax
FOB: Freight on Board. With imported products it describes the price of a product once it is on the international transport ship. Some/many distributors will call the price they buy the product from the importer for (which includes FET) as FOB as well.
Landed Cost: The total paid by the importer for receipt of goods at a destination warehouse, and includes the importer paying the excise tax.
Laid-In Cost: The price charged to the distributor for receipt of goods from an importer. It typically includes interstate transfer costs, warehouse costs, state taxes.
Margin vs. Markup: Markup is the percentage difference between the actual cost and the selling price, while margin is the percentage difference between the selling price and the profit.
MSRP/SRP: Manufacturer’s Suggested Retail Price

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