1. (1) Payment for cigarette tax stamps. Under s. 139.32 (6), Stats., manufacturers and distributors having obtained a permit from the secretary of revenue may purchase cigarette tax stamps on credit. The credit extended by the department for any cigarette tax stamp purchase shall become due and payable upon the earlier of:

   1. (a) Formal demand by the department.
   2. (b) Fifteen days after the close of the month in which the indicia were received by the manufacturer or distributor.
2. (2) Investigation. The department may investigate the financial stability of the applicant and may deny credit to any permittee when there is any question of ability to pay as required in this section.

3. (3) Revocation of privilege. The privilege granted to any manufacturer or distributor of making cigarette tax stamp purchases on credit may be revoked at any time at the discretion of the department.

   Note: Section Tax 9.67 interprets s. 139.32 (6), Stats.

History

History: Cr. Register, November, 1957, No. 23, eff. 12-1-57; am. Register, 68, eff. 9-1-61; am. Register, June, 1975, No. 234, eff. 7-1-75; emerg. r. and recr. eff. 9-1-93; r. and recr. Register, February, 1994, No. 458, eff. 3-1-94.