The Colorado Fuel Distributor Surety Bond is required by the Colorado Department of Revenue. The total bond amount must be equal to three times the monthly tax liability, not to exceed $200,000.00. The minimum bond allowed for gasoline and/or Special fuel is $25,000,00. Aviation gasoline and aviation jet fuel is considered gasoline for bond purposes.
What are the requirements in order to get a Fuel Distributors License in the state of Colorado?
According to the Colorado Department of Revenue, if you want to be a fuel distributor, supplier, importer, exporter, blender of fuel, carrier or terminal operator, you will need to be licensed.
The following requirements must be met:
- A completed application form. Take note that you need to supply all the answers including the type of ownership of the business, the type of fuel that you will receive or disburse, and the type of license that you need.
- You will also need to include your financial statements – report of assets, liabilities, net worth, etc.
- Trading Partner Agreement – to be filed via electronic filing using the Colorado Fuel Tracking System.
- Application for EFT Payments.
- Application fees payable to the Colorado Department of Revenue.
- Obtain a Fuel Distributor Surety Bond – this should be equal to three times the estimated monthly tax liability, with a minimum of $25,000 and a maximum amount of $200,000 (note: the cost to obtain the bond will only be a small percentage of the coverage amount).
Where can I find a Colorado Fuel Distributor Surety Bond?
Surety1 can help you get the surety bond that you are looking for. We have made the process simple and easy. All we need is a completed online application form.
Once you submit your application, one of our licensed agents will contact you within one business day with a firm quote. From there, any necessary paperwork will be signed, premium payment will be collected, and your new bond will be shipped to you via USPS priority mail (with overnight shipping options available).
Surety1 has been issuing bonds since 2003, and is rated A+ by the Better Business Bureau for its fast and friendly service.