The Alaska Motor Fuel Tax Surety Bond is required by the Alaska Department of Revenue. It is also referred to as a Qualified Dealer Surety bond. The bond states that your company will pay when due all motor fuel excise fees and/or taxes, penalties, and interest due and to become due, owing to the State of Alaska by said principal during the fiscal, under the provisions of the motor fuel excise tax and licensing laws of the State of Alaska (AS 43.40).
Motor fuel is referred to as fuel that is used in an engine for the propulsion of a motor vehicle aircraft, for watercraft or in a stationary engine, machine run by internal combustion motor. Those who would like to be in the business of motor fuel will need to hold a Qualified Dealer license in order to do business in Alaska.
In order to be eligible for the license, you must be someone who refines, imports, manufactures, produces or blends motor fuels. Or you should be someone who sells at least half of the fuel for resale, residential heating, use in jet propulsion aircraft or all of those. Submit your application form along with an Alaska Motor Fuel Tax surety bond. The amount of the bond should be twice the average monthly motor fuel tax or $5,000, whichever is greater.
Surety1 can make things easier for you. To receive a firm quote, complete our easy to navigate online application and within 1 business day, an agent will be in touch with a firm quote. Then you choose your shipping option, sign some important paperwork and get your bond. Surety1 has been issuing surety bonds for the State of Alaska since 2003, and is rated A+ by the Better Business Bureau.