New York — Cigarette Stamp Tax Credit (Corporation) Bond
For a corporation's New York State cigarette-stamp credit request, obtain the Tax Department's required security before applying. State Tax Law 472 allows approved agents thirty-day payment terms and authorizes security in an amount fixed by the Commissioner.
Continue to our secure checkout partner, Propeller (opens in a new tab).
- Recorded state
- New York
- Bond type
- Cigarette / Tobacco Tax Bond
- Category
- Business operations & taxes
What this bond does
The State undertaking supports the cigarette-stamp agent's credit arrangement under Article 20. Corporate status does not by itself grant an agent license or stamp-purchase credit.
- Who needs it
- Corporations matching a New York State cigarette-stamp credit request to their licensed agent account. Check the requesting authority: New York City's Department of Finance has a separate city stamp-credit undertaking.
- Who it protects
- Tax Law 472 authorizes security filed with the State Department of Taxation and Finance for payment of any sums due from the agent under Article 20. The protection is the state's revenue exposure, not corporate stock, customer debts or a city tax account. The Commissioner sets the required amount and acceptable security.
Your bond option
This is the option on record for this bond.
- Bond optionPurchase Now (opens in a new tab)Continue to our secure checkout partner, Propeller (opens in a new tab).
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.
Sources
Have these ready
- Corporation's exact legal name and State cigarette-stamp agent/account details.
- Tax Department's written credit-security request and assigned sum.
- Confirmation that the request concerns State rather than City stamp credit.
- Accepted corporate authority/execution, security period and state filing instructions.
- Expected stamp purchases and separate agent-license/credit approval information.
Questions about this bond
Does a corporation automatically receive thirty-day stamp credit?
No. The Commissioner may permit that arrangement and require acceptable security. Agent status, the assigned sum and credit approval must be established separately.
Can I use New York City's credit-bond instructions?
The city model protects city recipients and carries its own terms. Obtain the State Department's actual required instrument and corporate execution directions for a State request.
Is there a standard amount for every corporation?
Section 472 lets the Commissioner fix the security amount. Use the actual account-specific request rather than an amount or notice period borrowed from another agency.