Inference-time methods that aggregate and prune multiple samples have emerged as a powerful paradigm for steering large language models, yet we lack any principled understanding of their accuracy-cost tradeoffs. In this paper, we introduce a route to rigorously study such approaches using the lens of particle filtering algorithms such as Sequential Monte Carlo (SMC). Given a base language model and a process reward model estimating expected terminal rewards, we ask: how accurately can we sample from a target distribution given some number of process reward evaluations? Theoretically, we identify (1) simple criteria enabling non-asymptotic guarantees for SMC; (2) algorithmic improvements to SMC; and (3) a fundamental limit faced by all particle filtering methods. Empirically, we demonstrate that our theoretical criteria effectively govern the sampling error of SMC, though not necessarily its final accuracy, suggesting that theoretical perspectives beyond sampling may be necessary.

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