Form Boe-501-Cd - Cigarette Distributor'S Tax Report Page 2
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2BOE-501-CD (BACK) REV. 8 (7-07)
TAX VALUE
PART 2 - STAMP ACCOUNT FOR CALENDAR MONTH
PRIOR TO DISCOUNT
1a.
1a. Tax value of stamp inventory unaffixed
1. Inventory first of month
(Should agree with Part
1b. Tax value of stamps affixed to packages
1b.
2, line 5 of previous
month's report)
1c. Total (add lines 1a and 1b)
$
1c.
2. Tax value of stamps purchased
2.
$
3. Tax value on tax paid cigarette purchases
$
3.
4.
Total tax value to account for (add lines 1c through 3)
4.
$
5a. Tax value of stamp inventory unaffixed
5a.
5. Deduct inventory end
of month (see
5b. Tax value of stamps affixed to packages
5b.
instructions 5 & 7)
5c. Total (add lines 5a and 5b)
5c.
$
6.
Tax value of stamps used (subtract line 5c from line 4)
$
6.
7. Deduct unusable stamps for which claim has been filed (see Instructions 5)
7.
$
8.
Tax value affixed to packages sold (to Part 1, line 12)
8.
$
FILING REQUIREMENTS
Every cigarette distributor in this state must file this report and supporting schedules on or before the 25th day of the month following
the monthly reporting period. A duplicate of the report, together with all supporting records should be retained on the licensed premise for
verification by Board auditors. Cigarette Schedule F (BOE-501-CFS) must be attached.
INSTRUCTIONS
1. Include only federal tax paid cigarettes in this report.
2. The report must cover all cigarette, stamp and sample transactions for an entire calendar month.
3. Sale of cigarettes from one distributor to another distributor is taxable. An appropriate stamp shall be affixed to packages of cigarettes
sold to another distributor.
4. The sale of cigarettes by the original importer of cigarettes manufactured outside the United States to a licensed distributor is
exempt (Part 1, line 8d).
5. Amounts shown in Part 2, line 7, must be in agreement with Refund Claims (BOE-1024) filed for the month for unusable stamps returned to
the Board. If claim has not been filed for damaged stamps, such stamps should be included in unaffixed inventory (Part 2, line 5a).
6. Adjustments or corrections to a report for a prior month should be made on an amended report for that month or by letter addressed to the
Board explaining the adjustment in detail. Do not show such adjustments on this report.
7. Every distributor is required to keep daily records of the number of tax stamps used in their affixing operations. Physical inventories of
unused tax stamps on hand at the end of each month must be taken and all unaffixed and affixed tax stamps on hand must be reported on
Part 2, lines 5a and 5b.
8. Enter the inventory at the end of the month on Part 1, line 6 and the date of the last physical inventory on line 6c.
If you have a cycle count inventory system and perpetual inventory system in place, the monthly statement shall be based on the perpetual
inventory report run on the last business day of the month for which the wholesaler's report is filed. However, at least once every calendar
year, the monthly statement shall be based on a physical inventory of cigarettes on hand on the last business day of the month for which
the wholesaler's report is filed. A "cycle count inventory system" is a system that provides evidence that all cigarettes are counted on a
regular basis, with each item being counted at least once every three-month period. A "perpetual inventory system" is a system in which
inventory records are maintained and updated continuously as items are purchased or sold.
If you do not have a cycle count inventory system and perpetual inventory system in place, the monthly statement shall be based on the
inventory on hand at the end of the month covered by the report. However, at least once every six months, the monthly statement shall be
based on a physical inventory of cigarettes on hand performed within the last five days of the month for which the distributor or
wholesaler's report is filed.
9. If applicable, attach the following forms to the original copy of this report filed with the Board:
Form BOE-501-CAS, Schedule A - Distributor's Record of Cigarettes Received
Form BOE-501-CCS, Schedule C - Report of Export of Cigarettes
Form BOE-501-CFS, Schedule F - Cigarette Schedule F
If you wish additional information, please contact the State Board of Equalization, Excise Taxes Division,
450 N Street, P.O. Box 942879, Sacramento, CA 94279-0056, Telephone 800-400-7115.
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