The Georgia Motor Fuel Distributor’s Bond is required by the Georgia Department of Revenue in order to obtain a Motor Fuel Distributor License in this state.
What are the requirements in order to be a Motor Fuel Distributor in the state of Georgia?
To obtain a Motor Fuel Distributor License from the GA Dept. of Revenue, the following requirements must be submitted on the GA Tax Center website:
- A Georgia Sales & Use Tax Number
- A Federal Identification Number (FEIN)
- Secure and Verifiable Documents (front and back of document).
- An Officer’s Social Security number
- A Georgia Motor Fuel Distributor’s Bond, completed by a Surety Company licensed to do business in the state.
- Note: Surety1 represents over a dozen “A” rated surety markets that are all licensed in Georgia!
- Payment of $10.00 application fee
- The applicant must show estimated gallons for imports and exports if applying for a Gasoline (GR) License
More information regarding these requirements and processes can be found on the GA Dept. of Revenue website.
What are the requirements for the Georgia Motor Fuel Distributor’s Bond?
This bond must be in an amount equal to three times the average monthly tax liability for the past twelve months, with a minimum of $1,000. Your monthly tax liability amount is the number of taxable gallons times 7.5 cents plus the applicable state pre-paid tax rate during the period in which you are applying for your license.
The cost to obtain this bond however will only be a small percentage of this bond amount!
This bond is essentially a financial guarantee for the state that the licensed Motor Fuel Distributor will pay their tax liability. If the licensee fails to keep up with their tax liability, the state can file a claim on their Georgia Motor Fuel Distributor’s Bond, which the surety company will pay out if settled. Unlike insurance, the bond principal (the motor fuel distributor in this case) must repay the surety company for any losses incurred from the claim.
Where can I get a Georgia Motor Fuel Distributor’s Bond?
In order to obtain this bond, simply fill out our free online application! One of our licensed agents will contact you within one business day with a quote for the price to obtain your bond (the “premium”). If you choose to move forward after receiving your quote, we will have you sign any necessary paperwork and remit the premium payment, at which time we will ship your completed surety bond to you via USPS Priority Mail (with overnight shipping options also available).
Why choose Surety1?
At Surety1, our agents work with over a dozen “A” rated surety markets to ensure we are finding you the lowest price for your bond. We’ve been issuing surety bonds since 2003 and our quality, reliable service has led us to an A+ rating by the Better Business Bureau! Licensed in all 50 states.