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!

New York Cigarette Stamp Tax Credit Bond

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