The North Carolina Motor Fuels Tax Bond is required by the Department of Revenue. The bond states that the bondholder shall pay all taxes relating to the Sale, Use and Distribution of Motor Fuels. In addition, they shall comply with the laws, rules and regulations made known by the Secretary of Revenue.
Who needs a North Carolina Motor Fuels Tax Bond?
Suppliers, Distributors or Users of Motor Fuels must apply to the Secretary of Revenue for a license. The license needs to be in place before beginning work. The Motor Fuels Tax bond is one of the licensing requirements.
What is the Bond amount?
The bond amount varies depending on the motor fuel license.
- Refiners, Terminal Operators, Suppliers and Bonded Importers: $2,000,000.
- Distributors, Tank Wagon Importers, and Alternative Fuel Providers: They require two times the average monthly motor fuel tax liability. With a minimum of $2,000 and a maximum of $500,000.
- Blender, Fuel Alcohol Providers and Biodiesel Providers: Those whose annual tax liability is at least $2,000 need a bond. The amount will be two times the average monthly motor fuel tax liability. With a minimum of $2,000 and a maximum of $500,000.
See Motor Fuels Tax License Application for additional licenses and their bonding requirements.
Where can I get a North Carolina Motor Fuels Tax Bond?
Surety1 will help you get bonded quickly and reliably. We have partnered with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond.
Start the process by first completing our easy to navigate online application form. After that, one of our licensed agents will contact you with a no-obligation quote for the bond premium. Next, we’ll collect the premium payment and have you sign the agreement. Lastly, your North Carolina Motor Fuels Tax bond will be shipped to you via USPS Priority Mail. Overnight shipping options also available.
Surety1 is licensed in all 50 states and we maintain an A+ rating by the Better Business Bureau.