The state of California elected to extend its contract with SICPA as its provider of state-of-the-art pressure-sensitive cigarette tax stamps through SICPATRACE, SICPA’s encrypted stamp and services platform. The contract will continue to be executed and serviced by SICPA Product Security, LLC and Meyercord Revenue, a SICPA company.
 
“This extension is a testament to SICPA’s success in delivering results in the field of excise tax stamps,” said Alex Finkel, Meyercord Revenue president.
 
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 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. 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. Currently, Meyercord provides this service to 46 of the 47 states that use excise stamps. In its history, Meyercord Revenue has produced and shipped more than five trillion tax stamps.