New York Wholesale Dealer of Cigarettes Bond Guide
If you’re applying for a wholesale cigarette dealer license in New York, you’ll need this surety bond.
Bond Overview
- Purpose: To guarantee payment for excise cigarette and tobacco taxes
- Who Needs It: All cigarette wholesalers in New York
- Regulating Body: The State Department of Taxation and Finance
- Required Coverage: $10,000
- Premium Rate: $120 for a 1-year term
Learn all about the bond requirements and process in this guide.
What Is a New York Wholesale Dealer of Cigarettes Bond?
A New York wholesale cigarette dealer bond holds distributors and wholesalers financially liable for paying cigarette taxes, fines and fees.
The New York State Department of Taxation and Finance requires this bond as part of the licensing process for all wholesale cigarette distributors in the state.
How Much Do Wholesale Cigarette Dealer Bonds Cost in New York?
A $10,000 New York wholesale cigarette dealer bond costs a flat rate of $120 for a 1-year term. Or, you can save 25% by selecting a multi-year term.
Click below to buy your bond in minutes!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Wholesale Dealer of Cigarette Bonds?
The New York State Department of Taxation and Finance requires this bond as part of the licensing process for all cigarette wholesalers in the state.
There are four sub-types of wholesalers underneath the one wholesaler dealer license:
- Cigarette agent-jobber
- Cigarette sub-jobber
- Cigarette vending machine operator
- Wholesale dealer of other tobacco products
How Do I Get My Bond?
With SuretyBonds.com, you can buy your New York wholesale cigarette dealer bond instantly online. Just enter your information and checkout in minutes.
We’ll mail you the bond via your preferred shipping method. Be sure to file the bond with the New York State Department of Taxation and Finance as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a New York Wholesale Dealer of Cigarettes Bond Work?
As with all surety bonds, a wholesale cigarette dealer bond creates a legal contract between three parties:
- Principal: You, the cigarette wholesaler filing the bond
- Obligee: The New York State Department of Taxation and Finance requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of Article 20-A of New York Tax Law.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your wholesale cigarette dealer bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
