The Indiana Special Fuel License Bond is required by the Indiana Department of Revenue. Surety1 can write this bond for as low as 1% for the year.
What is the purpose of an Indiana Special Fuel License Bond?
A surety bond is one of the requirements of those applying to have a supplier’s license for special fuels. The exact amount is determined by the commissioner but it should not be less than $2,000 or not more than a two-month tax liability for the applicant. The Indiana Special Fuel License Bond must be issued by a surety company approved by the commissioner and on forms prescribed by the department. The bond gaurantees the payment of the fuel taxes.
What are the other requirements to be a Special Fuel License Supplier in Indiana?
Special fuel, according to IC 6-6-2.5-22, means all combustible gases and liquids that are:
- Suitable for the generation of power in an internal combustion engine or motor or
- used exclusively for heating, industrial, or farm purposes other than for the operation of a motor vehicle.
Special fuel includes biodiesel and blended biodiesel and natural gas products.
A supplier means a person or busiess entity that imports or acquires immediately upon import into Indiana special fuel by pipeline or marine vessel from within a state, territory, or possession of the United States into a terminal or that imports special fuel into Indiana from a foreign country, or that produces manufactures, or refines special fuel within Indiana.
Those who wish to be a special fuel supplier must first obtain a supplier’s license. Aside from paying the $500 fee, the applicant must pass an application form to the department and provide an Indiana Special Fuel License Bond . The department may also be required to submit their fingerprints to the commissioner when applying.
Why should I choose Surety1 for my Indiana Special Fuel License Bond?
Surety1,has been providing same day quotes on surety bonds since 2003. We offer the lowest rates through our partnership with over a dozen “A” rated surety companies. With our fast and friendly service, your application for a bond may even be approved within just one business day!
To obtain your bond, complete the online application and one of our agents will be intouch with you with a firm quote. Then you make payment, sign some important paperwork and your bond will be mailed to you. Overnight shipping is availible at an addtional cost.
Surety1 has been issuing surety bonds since 2003, and we have been servicing clients from all 50 states. We are also rated A+ by the Better Business Bureau.