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Mississippi bonds

Mississippi — Wholesale Tobacco Dealer Bond

Mississippi's posted wholesale-tobacco dealer bond covers tax stamps consigned without advance payment. Confirm that Revenue has requested security for that stamp arrangement; the form is not a blanket bond for every tobacco retailer or tax return.

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Recorded state
Mississippi
Bond type
Cigarette / Tobacco Tax Bond
Category
Business operations & taxes

What this bond does

Form 99-940 supports a licensed wholesale dealer qualified to purchase and affix tax stamps when the Commissioner allows consignment under section 27-69-75. It secures the dealer's duty to pay and account for those stamps.

Who needs it
Licensed wholesale tobacco dealers arranging bonded cigarette-stamp orders with Mississippi Revenue. Match the actual consignment account and approved amount, rather than relying on the broad wholesale-tobacco name alone.
Who it protects
Principal and surety bind themselves jointly and severally to Mississippi. The full condition requires payment and accounting for all stamps consigned to the dealer when and as the law requires. The state is protected; the bond does not insure stored tobacco or guarantee payment of the dealer's customer invoices.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Details for Mississippi's consigned-stamp bond

Revenue's currently listed Form 99-940 is headed Wholesale Tobacco Dealer's Surety Bond and expressly covers consignment of tax stamps. Obtain the Commissioner's required sum for the account before applying. The form leaves the amount to be entered and allows changes through a properly executed rider approved by the Commissioner.

The current tobacco programme distinguishes cash stamp orders, payable with the order, from bonded orders, payable thirty days from the invoice date. Its other-tobacco-product returns have different deadlines. Do not treat a stamp-consignment bond as automatic security for every other tobacco account.

Tobacco permits, returns and cigarette-stamp orders are handled through TAP. Complete the required registration and wholesale-permit steps separately. The bond's condition assumes a duly licensed dealer qualified to purchase and affix stamps; buying it does not create that qualification.

The model starts on the entered date and provides no automatic annual ending date. Its surety-cancellation provision requires notice served on Revenue or sent by registered mail. The effective date must be at least sixty days after service, or after the date on the sender's registry receipt when that mailing method is used.

Cancellation leaves principal and surety liable for defaults occurring before the cancellation date. Complete the principal and surety execution fields, attach written authority when an attorney-in-fact signs, and obtain Revenue's acceptance. Do not substitute a recipient-receipt clock or an unrequested notarization rule for the posted wording.

Purchase Now opens Propeller's Mississippi wholesale-tobacco application in a new tab. Use the licensed legal name, consignment account, approved sum and effective date, then submit the executed security as Revenue directs. Provider payment does not file the state bond, approve consignment or place a stamp order.

Sources

Have these ready

  1. Licensed wholesale dealer's legal name and Mississippi permit/account details.
  2. Revenue's request for the stamp-consignment arrangement.
  3. Approved sum, effective date and any required rider.
  4. Current Form 99-940 execution fields and attorney-in-fact authority if applicable.
  5. Revenue's acceptance/submission instructions and separate TAP ordering access.

Questions about this bond

Does this cover every wholesale tobacco tax obligation?

The posted model specifically secures payment and accounting for consigned tax stamps. Other-tobacco returns and other security requests must be matched separately to the instrument Revenue requires.

When are bonded stamp orders payable?

Revenue's current tobacco page states thirty days from the invoice date. Cash orders are payable with the order. Confirm the arrangement and invoice before treating an order as bonded credit.

Can I change the amount without replacing the bond?

The model permits an increase or decrease by a properly executed rider, subject to the Commissioner's approval. Arrange the accepted change before relying on a different amount.

Does registered-mail cancellation run from Revenue's receipt?

The effective date must be at least sixty days after service, or at least sixty days after the date on the sender's registry receipt when sent by registered mail. Earlier defaults remain covered. Follow the actual notice wording.

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