A07789 increases the time period for the payment of cigarette tax stamps by an agent from 30 to 45 days.

A07789 amends the tax law to extend the time period for the payment of cigarette tax stamps by an agent from 30 to 45 days. The commissioner is authorized to set a schedule of commissions for agents buying and affixing stamps, which can be uniform or on a graduated scale. Agents can be licensed to buy and affix stamps, and they may be required to file a bond with the department of taxation and finance. The bill also outlines procedures for the sale of stamps and the handling of securities deposited as security.

A07789 increases the time period for the payment of cigarette tax stamps by an agent from 30 to 45 days.

A07789 amends the tax law to extend the time period for the payment of cigarette tax stamps by an agent from 30 to 45 days. The commissioner is authorized to set a schedule of commissions for agents buying and affixing stamps, which can be uniform or on a graduated scale. Agents can be licensed to buy and affix stamps, and they may be required to file a bond with the department of taxation and finance. The bill also outlines procedures for the sale of stamps and the handling of securities deposited as security.