The Idaho Bond of Licensed Fuel Distributor is required by the State of Idaho Tax Commission. This bond is required for all those who wish to be a licensed fuel distributor in the state. The Idaho Bond of Licensed Fuel Distributor states that you will file true reports in the time and manner expected by the state. Also, that you will pay the State Tax Commission any and all motor fuels, excise taxes and faithfully comply with the provisions of said Chapter 24, Title 63, of the Idaho Code.
How do I become a licensed fuel distributor in Idaho?
First, you must determine which type of fuel distributor you will be. There are essentially four types in Idaho:
- motor fuels distributors
- gaseous fuels distributors
- limited distributors
- unlicensed distributors
You can go to the Idaho State Tax Commission website to further explore the differences between the four.
The requirements to be submitted for the license are the following:
- A completed application
- Be sure to check that every part of the form is answered correctly
- An Idaho Bond of Licensed Fuel Distributor equal to the taxes accruing during a 60-day period. It should also be a minimum of $1,000
- If you are a foreign corporation, a certified copy of your Certificate of Authority issued by the Idaho Secretary of State
How do you get an Idaho Bond of Licensed Fuel Distributor?
The process is simple and easy! Just complete our online application then wait for a call from one of our licensed agents, which should come within one business day. The agent will give you a quote for your bond premium which is usually a small percentage of the bond amount. Once you sign the paperwork and pay the bond premium, you have the option to receive your Idaho Bond of Licensed Fuel Distributor via USPS Priority Mail or overnight delivery for an additional cost.
Surety1 has been in the business of surety bonds since 2003 and we are licensed in all 50 states. We also maintain an A+ rating from the Better Business Bureau.