New York Cigarette Stamp Tax Credit Bond
What is a New York Cigarette Stamp Tax Credit Bond?
It is a financial guarantee required of manufacturers and retailers of cigarettes who has registered with and has been appointed by the Commissioner of Taxation and Finance of the State of New York as agents to affix adhesive or meter stamps. This bond will be used to secure the payments of adhesive or meter stamps.
The manufacturer or retailer of cigarettes must pay for the adhesive or meter stamps 30 days after the date of purchase.
The Commissioner of Taxation and Finance of the State of New York may permit an agent to pay the tax imposed under Section 1103 of Article 28 of the New York State Tax Law at the same time that the agent pays for cigarette tax stamps stated in Article 20 of the New York State Tax Law.
How much does a New York Cigarette Stamp Tax Credit Bond cost?
The bond premium starts at 1.5% of the bond amount for agents who have excellent credit scores.
The bond amount will be determined by the Commissioner of Taxation and Finance of the State of New York.
Once you have determined your bond amount, immediately get your FREE SURETY BOND QUOTE HERE!
How can I get a New York Cigarette Stamp Tax Credit Bond?
You can easily and conveniently get this bond from us. Our secured surety bond online service is available 24 hours a day, 7 days a week.
STEP 1: APPLY FOR THIS BOND HERE!
Your application will immediately be processed once we have received it. We will contact you if we need further information or if you need to submit documents needed for the prequalification process.
STEP 2: The following will be checked during the prequalification process:
- Your financial capability
- Your business or job performance history
- Your credit score
Our expert underwriter will carefully evaluate all three in order to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.
STEP 3: Sign the indemnity agreement and pay the bond premium.
STEP 4: Your surety bond will be issued and sent to you.
How does a New York Cigarette Stamp Tax Credit Bond work?
A surety bond is not an insurance. It is an extension of credit provided by the Surety (surety bond company) to the Principal (agent).
The Surety guarantees the performance of the former to the Commissioner of Taxation and Finance through this bond. The Principal is primarily responsible for the fulfillment of the bonded obligations. If the Principal fails to do any of the bonded obligations required by the relevant laws, rules, and regulations, the Obligee can file a bond claim.
The claim will first be verified by the Surety before it is settled. Once the Surety has settled the claim, the Principal will reimburse the Surety for the payments made.
Need this bond ASAP? APPLY NOW!