Prilly, Switzerland, January 19, 2016
“This extension is a testament to SICPA’s success in delivering results in the field of excise tax stamps,” said Meyercord Revenue President Alex Finkel. “We are very proud to have the opportunity to continue to partner with the State of California Board of Equalization to protect these vital excise tax revenues,” said Finkel. He continued, “We are committed to delivering to our customers the best in anti-counterfeiting technology, optimized enforcement tools, and most importantly, leading customer service.”
SICPA’s partnership with the State of California began in 2005. In 2010, after successful execution of its first contract with the state, SICPA won a new contract to continue supplying California with its SICPATRACE® secure platform. SICPATRACE® enables the State of California to collect an additional $152 million in excise tax revenue annually, per the California Board of Equalization. With this extended contract, California will continue to distribute approximately 900 million tax stamps per year and collect more than $750 million in annual excise tax revenue.
SICPATRACE® combines advanced inks, enforcement tools, and data management services to create a tax stamp platform that produces results. These stamps provide state governments with a forensic trail throughout the cigarette distribution supply chain, from distributor to retailer. This capability enables state governments to accurately estimate and track excise taxes due, identify and reduce the spread of counterfeit products on the market and prosecute counterfeiters, smugglers and sellers of untaxed cigarettes.
Acquired by SICPA in 2010, Meyercord Revenue is the leading U.S. provider of excise tax collection solutions that help government and law enforcement agencies reclaim lost revenue, close state budget gaps and protect jobs and essential public services. Currently, Meyercord provides this service to 46 of the 47 states that use excise stamps. In its history, Meyercord Revenue has produced and shipped over 5 trillion tax stamps with an unparalleled level of success. Founded in 1894, Meyercord Revenue has been providing excise tax stamps to U.S. states for more than 60 years and represents a reliable, consistent supply of high-quality, highly secure, counterfeit-resistant tax stamps.