Missouri Code of State Regulations › Title 12 - DEPARTMENT OF REVENUE › Division 10 - Director of Revenue › Chapter 16 - Cigarette Tax › Section 12 CSR 10-16.090 - Purchase on Deferred Payment Basis

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule clarifies the reporting
				  requirements, surety bond requirements, and the approval necessary for
				  purchases of tax stamps on the deferred payment basis.
PUBLISHER'S NOTE: The secretary of state has
				  determined that the publication of the entire text of the material which is
				  incorporated by reference as a portion of this rule would be unduly cumbersome
				  or expensive. This material as incorporated by reference in this rule shall be
				  maintained by the agency at its headquarters and shall be made available to the
				  public for inspection and copying at no more than the actual cost of
				  reproduction. This note applies only to the reference material. The entire text
				  of the rule is printed here.
(1) All wholesalers who purchase tax stamps
				on the deferred payment basis must file the monthly report required by section
				149.041.2, RSMo, on the
				fifteenth day of the following month.
(2) All purchases of tax stamps on the
				deferred payment basis must have the prior approval of the director. The total
				amount of outstanding credit granted may not exceed one hundred percent (100%)
				of the bond furnished by the wholesaler.
(3) The surety bond required under section
				149.025, RSMo, to purchase
				stamps on the deferred payment basis may be in cash, certificate of deposit,
				using Assignment of Certificate of Deposit, Form 4172, irrevocable letter of
				credit, using Irrevocable Letter of Credit, Form 2879, or surety bond, using
				Surety Bond, Form 331. Any surety on a bond furnished by a cigarette wholesaler
				shall be released and discharged from any and all prospective liability to the
				state occurring after the expiration of ninety (90) days from the date upon
				which the surety shall have lodged with the director a written request to be
				released and discharged, but this provision shall not operate to relieve,
				release, or discharge the surety from any liability already accrued or which
				shall accrue before the expiration of the ninety- (90-) day period. The
				director, promptly upon receiving any request, shall notify the cigarette
				wholesaler who furnished the bond, and unless the wholesaler shall file, on or
				before the expiration of the ninety- (90-) day period, with the director a new
				bond fully complying with the provisions of section
				149.025, RSMo, the director
				shall forthwith revoke all credit privileges and notify the wholesaler that all
				purchases must be made in cash.
(4)
				The payment of the St. Louis County or Jackson County cigarette tax may not be
				deferred.
(5) The Assignment of
				Certificate of Deposit, Form 4172, revised April 2021, Irrevocable Letter of
				Credit, Form 2879, revised April 2021, and the Surety Bond, Form 331, revised
				September 2022, are incorporated by reference, are published by the Missouri
				Department of Revenue, and can be found at
www.dor.mo.gov
or the Harry S Truman State Office
				Building, 301 West High Street, Jefferson City, MO 65105. This rule does not
				incorporate any subsequent amendments or additions.
*Original authority: 66.380, RSMo 1967, amended 1993, 1995;
					 136.030, RSMo 1945, amended 1947, 1949, 1965; 136.120, RSMo 1945; 149.015, RSMo
					 1974, amended 1982, 1993, 1994, 2001, 2005; 149.021, RSMo 1974, amended 1982;
					 and 210.320, RSMo 1939, amended 1969, 1976, 1978, 1993,
					 1995.