Florida Regulations 61A-10.0021: Stamping Agent – Requirements
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The Division shall authorize a wholesale dealer as a stamping agent to affix stamps to packages of cigarettes provided the dealer furnishes the Division with:
(1) An irrevocable letter of credit, certificate of deposit, unconditional guarantee contract, or a surety bond, issued by a solvent surety company registered to do business in this state, equal to 110% of the estimated monthly tax liability, but not less than $2,000, as required in Sections 210.05 and 210.08, F.S. The Division shall determine the estimated monthly tax liability based on the packs of unstamped cigarettes purchased for resale within the State of Florida, for which the stamps have been purchased on credit in lieu of cash payment.
(a) Surety amounts will be reviewed with every audit to verify compliance with this rule. The surety amount will be based on the highest month’s total liability.
(b) Liability for stamp purchases shall not exceed the surety amount.
(c) Each month, an agent that has met the surety amount for credit liability may purchase additional stamps for cash on delivery, provided that the division receives the cash equivalent payment prior to sale of additional stamps.
(d) Payment for stamps must be made by certified check or the bank equivalent, or by electronic funds transfer, but not by cash currency.
(e) Stamping agents will provide the Division with a continuation certificate of the surety when the stamping agents pay their surety premium.
(f) If a surety instrument is cancelled, the stamping agent must cease operation.
(g) Applicants shall properly execute and submit form DBPR ABT-6032, Division of Alcoholic Beverages and Tobacco Surety Bond Form, which may be obtained as specified in Fl. Admin. Code R. 61A-5.001, and is incorporated herein by reference and effective (2/08). Instructions for filling out form DBPR ABT-6032 are provided in form DBPR ABT-6032i, Instructions for Completing DBPR ABT-6032, Division of Alcoholic Beverages and Tobacco Surety Bond Form, which may be obtained as specified in Fl. Admin. Code R. 61A-5.001, and is incorporated herein by reference and effective (2/08).
(2) A letter from manufacturers and importers stating that they will ship to the applicant direct.
(3) A letter from the wholesale dealer requesting to be a stamping agent.
(4) If licensed as a stamping agent by another state, authorization from that state to purchase and affix that state’s tax indicia within the State of Florida.
Rulemaking Authority 210.10 FS. Law Implemented 210.01, 210.021, 210.05, 210.08, 210.15 FS. History-New 9-2-08, Amended 10-11-09.
Terms Used In Florida Regulations 61A-10.0021
- Contract: A legal written agreement that becomes binding when signed.
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
(a) Surety amounts will be reviewed with every audit to verify compliance with this rule. The surety amount will be based on the highest month’s total liability.
(b) Liability for stamp purchases shall not exceed the surety amount.
(c) Each month, an agent that has met the surety amount for credit liability may purchase additional stamps for cash on delivery, provided that the division receives the cash equivalent payment prior to sale of additional stamps.
(d) Payment for stamps must be made by certified check or the bank equivalent, or by electronic funds transfer, but not by cash currency.
(e) Stamping agents will provide the Division with a continuation certificate of the surety when the stamping agents pay their surety premium.
(f) If a surety instrument is cancelled, the stamping agent must cease operation.
(g) Applicants shall properly execute and submit form DBPR ABT-6032, Division of Alcoholic Beverages and Tobacco Surety Bond Form, which may be obtained as specified in Fl. Admin. Code R. 61A-5.001, and is incorporated herein by reference and effective (2/08). Instructions for filling out form DBPR ABT-6032 are provided in form DBPR ABT-6032i, Instructions for Completing DBPR ABT-6032, Division of Alcoholic Beverages and Tobacco Surety Bond Form, which may be obtained as specified in Fl. Admin. Code R. 61A-5.001, and is incorporated herein by reference and effective (2/08).
(2) A letter from manufacturers and importers stating that they will ship to the applicant direct.
(3) A letter from the wholesale dealer requesting to be a stamping agent.
(4) If licensed as a stamping agent by another state, authorization from that state to purchase and affix that state’s tax indicia within the State of Florida.
Rulemaking Authority 210.10 FS. Law Implemented 210.01, 210.021, 210.05, 210.08, 210.15 FS. History-New 9-2-08, Amended 10-11-09.