Form Mfa-6 - Irrevocable Letter Of Credit
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1Division Use Only — DLN Stamp
Division Use Only — Date Stamp
Send to:
Division of Taxation
PO Box 189
Pursuant to NJSA 54:39-101 et seq
Trenton, NJ 08695-0189
10-2010
Irrevocable Letter of Credit
Form MFA-6
AMOUNT
LETTER OF CREDIT NUMBER
DATE OF ISSUANCE
DATE OF EXPIRATION
$
__ __ / __ __ / __ __ __ __
__ __ / __ __ / __ __ __ __
TAXPAYER/BUSINESS NAME
ISSUING BANK/FINANCIAL INSTITUTION NAME
STREET ADDRESS
STREET ADDRESS
CITY
STATE
ZIP
CITY
STATE
ZIP
______________________________(Issuing Bank/Financial Institution) hereby issues this Irrevocable Letter of Credit in favor of the New
Jersey Division of Taxation, and agrees to pay to the Division any liabilities, up to an aggregate amount of _________________
dollars ($____________________). This document shall secure payment of the Motor Fuels Tax and related fees, interest, additional
taxes, and/or penalties due to the State of New Jersey on or after the date of issuance.
Funds shall be paid to the New Jersey Division of Taxation upon a written demand for payment on the issuing bank or financial
institution by referencing this Irrevocable Letter of Credit. The issuing bank or financial institution shall upon receipt honor all partial
or full demands for payment.
This Irrevocable Letter of Credit shall be effective for a period of one (1) year from the date of issuance and shall automatically
renew annually without amendment for an additional period of one (1) year unless the Division of Taxation is notified by registered
mail postmarked sixty (60) days prior to the expiration date that this Irrevocable Letter of Credit will not be renewed for such
additional period. Any notification to not renew the Irrevocable Letter of Credit shall not relieve, release, or discharge the issuing
bank or financial institution from any liability for the tax or related fees, interest, additions to tax, and/or penalties that may accrue
for all periods prior to the expiration date of this Irrevocable Letter of Credit.
The taxpayer shall be released from this Irrevocable Letter of Credit four (4) years after the expiration date or after a final audit of
the taxpayer’s records has been cleared, whichever occurs first. Additionally, the Division of Taxation reserves the right to
conduct an audit at any time of the taxpayer’s records extending to a period of four (4) years prior to the date of issuance.
The New Jersey Division of Taxation shall have a period of four (4) years after the expiration date of the Irrevocable Letter of Credit
to make a demand for payment upon the issuing bank or financial institution. The issuing bank or financial institution affirms that
any demand for payment made by the New Jersey Division of Taxation in accordance with this Irrevocable Letter of Credit shall
be honored upon receipt.
FINANCIAL INSTITUTION OFFICER INFORMATION
The officer of the financial institution identified above is authorized to execute this irrevocable letter of credit; and this financial
institution will honor all drafts on demand. The name of the authorized financial institution officer, title, and signature are required.
NAME
TITLE
SIGNATURE
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