The Arkansas Coin Amusement Machines Bond is required by the Arkansas Commission of Revenue. The bond amount required is $6,000. Every person or company operating coin operated amusement machines is required to pay the commissioner of revenues an annual privilege fee at the rate of $5.00 for each machine on location within the state of Arkansas.
In addition to an Operators Permit, every such coin operated amusement machine operator is required to give the bond to the State of Arkansas, conditioned that such operator will faithfully perform the duties and obligations imposed upon him under the Arkansas Code § 26-57-401.
What is the purpose of the Arkansas Coin Amusement Machines Bond?
The surety bond is not for your protection, rather the state requires them as an added insurance that you will conduct your business in a legal and professional manner, faithfully complying with the rules and regulations of the state. This includes being prompt and faithful with paying all the taxes that are due you, including all sales taxes, use taxes, or privilege taxes.
Please take note too that the surety company that will issue the surety bond must be licensed to operate in the state.
Where can I get an Arkansas Coin Amusement Machines Bond?
If you are in need of an Arkansas Coin Amusement Machines Bond and you need it quickly, Surety Solutions Insurance Services, Inc has made the process easier. In fact, in most cases, you can get your bond approved within just one business day. Just answer our online application form, and wait for one of our surety experts to call you with a quote and some further instructions.
Surety Solutions Insurance Service, Inc. (Surety1) has been in the business since 2003 and we pride ourselves on our quality service, as evidenced by our A+ rating from the Better Business Bureau.
Friendly agents available to answer your questions.