Utah Administrative Code
Topic - Tax Commission
Title R865 - Auditing
Rule R865-20T - Tobacco Tax
Section R865-20T-5 - Bonding Requirements For Cigarette and Tobacco Products Dealers Pursuant to Utah Code Ann. Sections 59-14-210 and 59-14-301
Current through Bulletin 2024-06, March 15, 2024
(1) Dealers who only sell tobacco products upon which the taxes imposed by this act have been paid by a previous seller are not required to post a bond.
(2) Subject to Subsections (3) and (4), the commission shall calculate the amount of a bond required under Title 59, Chapter 14, Cigarette and Tobacco Tax and Licensing ("Chapter 14"), on the basis of:
(3) If the commission determines it is necessary to ensure compliance with Chapter 14, the commission may require a licensee to increase the amount of a bond filed with the commission.
(4) A licensee that does not purchase cigarette stamps on credit may not make any single purchase of cigarette stamps that exceeds 90% of the amount of the bond the licensee has filed with the commission.