The Texas Motor Fuels Tax Continuous Bond is required by the Comptroller of Public Accounts.
The Texas Motor Fuels Tax Continuous Bond states that the bond holder will pay all taxes, penalties, interest, and costs due under the permit applied for. This bond will cover the permits required for either Gasoline or Diesel Fuel. The Texas Motor Fuels Tax Continuous Bond is necessary in order to get and maintain these permits.
Without this Texas Motor Fuels Tax Continuous Bond on file, permits may be suspended so it is critical to ensure the validity of your bond and renew it in a timely manner. The Comptroller may also cancel or refuse the permit or license, so it is very important to get this bond in order to sell gasoline or diesel fuel in the state of Texas. This bond is very important to the state because it ensures they will receive the proper revenue from the bond holder.