After some serious searching I was able to find that CVS doesn’t post an official “policy”. That said, I did find the following in repeated locations and it seems to indicate something of a policy, so I have repeated it here:
CVS Coupon Policy
The use of ExtraBucks, CVS/pharmacy and third-party manufacturer coupons is accepted in our retail stores in accordance with the following guidelines.
General guidelines to further understand the application of CVS/pharmacy coupons (ExtraBucks and ExtraCare Coupons) and third-party manufacturer coupons:
• CVS/pharmacy does not accept expired coupons.
• Coupons and their face value cannot be exchanged for cash or gift cards.
• Competitor coupons are not accepted at CVS/pharmacy.
• CVS/pharmacy does not accept coupons for items not carried in our stores.
• CVS/pharmacy does not currently accept coupon bar code images displayed on a smartphone, iPhone, Droid etc.
• The total value of the coupons may not exceed the value of the transaction. Sales tax must be paid if required by state law.
• Certain CVS/pharmacy coupons may be subject to state sales tax rules similar to third-party manufacturer coupons and sales tax may be charged on pre-coupon price
o Third-party manufacturer coupons are coupons issued by a third party and sales tax may be charged on pre-coupon price.
• Language at the bottom of CVS/pharmacy coupons provides specific coupon acceptance rules.
• Any coupon offer not covered in these guidelines will be accepted at the discretion of CVS/pharmacy management.
• CVS/pharmacy will accept manufacturer coupons for an item that is on sale.
• CVS/pharmacy will not accept percent off coupons for sale and promotional items.
• In the event that any item’s price is less than the value of the coupon, CVS/pharmacy will accept the coupon only to the price of the item. CVS/pharmacy does not provide cash back in exchange for any coupons.
• CVS/pharmacy accepts one third-party manufacturer coupon and applicable CVS/pharmacy coupon(s) for the purchase of a single item, unless prohibited by either coupon offer.
• The number of third-party manufacturer coupons used in a transaction may not exceed the number of items in the transaction.
• The coupon amount will be reduced if it exceeds the value of the item after other discounts or coupons are applied. (For example, a $5.00 coupon for a $4.99 item will result in a $4.99 coupon value).
• CVS/pharmacy accepts multiple identical coupons for multiple qualifying items as long as there is sufficient stock to satisfy other customers, unless a limit is specified. Management reserves the right to limit the quantity of items purchased.
• CVS/pharmacy reserves the right to process coupons in any order.
Internet/Print at Home Coupons
• CVS/pharmacy accepts valid internet/print at home coupons containing a barcode.
• CVS/pharmacy will not accept reproductions or rebates