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Meyercord Revenue, a SICPA company, is pleased to announce that following a competitive procurement process, the Virginia Department of Taxation is again contracting with Meyercord Revenue to support the Commonwealth’s Tobacco Revenue Stamp Program.
For 58 continuous years, Meyercord Revenue has been the Commonwealth’s trusted provider with the market-leading FUSON® tax stamp. The Tobacco Revenue Stamp Program is critical to the collection of $234 million in annual cigarette taxes in Virginia and supports the prevention of cigarette trafficking across state lines.
“We are thrilled to continue our longstanding partnership with Virginia to support the state’s Tobacco Revenue Stamp Program,” said Meyercord Revenue President Alex Finkel.
“The FUSON® tax stamp program has been proven through 60 years of successful revenue stamp facilitation, bringing increased tax and Master Settlement Agreement revenues to FUSON® customers, like the Commonwealth.
Meyercord currently provides personalized, secure, high-quality, and cost-effective revenue stamps to 44 U.S. states and more than 180 local jurisdictions, including the Commonwealth and more than 100 local Virginia municipalities and four (4) regional cigarette tax boards. These highly secure, counterfeit-resistant tax stamp solutions protect millions of dollars in excise tax revenue annually with a unique multi-layered solution that includes visible, hidden, and forensic features to prevent fraud and criminal activity.
SICPA/Meyercord support for the Commonwealth of Virginia extends beyond protecting tobacco tax revenues to also include more than $1B in annual motor fuels tax revenues through the contract with the Virginia DMV for the Virginia Excise Tax Administration System (VAETS).
About Meyercord Revenue, a SICPA company
Founded in 1894, Meyercord Revenue is the leading excise tax stamp provider with customers in 44 U.S. states and more than 180 municipalities and Native American tribes. Meyercord Revenue has 60 years of dedicated industry experience providing cigarette excise tax stamps and has shipped over 5 trillion tax stamps to date.