According to the New Jersey Revised Statutes, a distributor shall post a bond of not less than 3 months total liability for the tax imposed. This is based on the number of gallons handled as estimated by the director for gasoline and fuel.
The Motor Fuel Tax Bond states that the bondholder shall faithfully perform and discharge all requirements and duties imposed under Subtitle #6, of the Revised Statutes. In addition, they shall duly account for and pay to the Director of the Division of Taxation all taxes, interest, penalties, and other obligations arising out of or in connection with the said law.
At Surety1 we will get you bonded quickly. You can be assured of the lowest rates as we have partnered with over a dozen A-rated surety markets. We have friendly agents who are willing to answer all your queries and give you only the best service.
First, start the process by using our easy to navigate, free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your Motor Fuel Tax Bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
Surety1 has been issuing surety bonds in the State of New Jersey since 2003. We continue to be rated A+ by the Better Business Bureau for our outstanding service.