Iowa Admin. Code r. 701-232.3 - [Effective 4/23/2025] Distributor bond
(1)
Generally. A bond in the
amount of $1,000 is required to be posted before a distributor's permit can be
issued, regardless of whether or not the distributor is permitted and bonded as
a cigarette permittee.
(2)
Aggregation. If the distributor has a cigarette permit of any
kind and is required to post a bond thereunder, the amount of the cigarette
bond(s) and the tobacco bond(s) may be aggregated to reach a single bond
requirement, and the distributor may provide a single bond in the aggregate
amount provided the bond may be used to discharge either a cigarette tax
liability or a tobacco tax liability. Rule
701-230.4 (453A) provides more
information about bonds.
This rule is intended to implement Iowa Code section 453A.44.
Notes
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