Most states across the U.S. require a sales use and tax bond. This particular bond ensures the business will pay their state taxes on time. Businesses that do retail sales, leases, and rent goods need this bond. The bond also provides assurance that the business is financially credible and responsible. When it comes time to pay taxes, the state does not want to hear from a business that the they are not able to pay their dues. A surety bond tells the state that the bonded business is financially reliable.
The common bonds in the category of sales and use tax are:
This bond is a license to collect and transfer sales tax from products sold. It tells local or state government that the sales taxes will be turned in and paid on time by the businesses that collect it.
Bond amount and cost.
The cost for these bonds depend on the particular bond type, the bond amount, and credit score. For the bond amount, the gross receipts or projected sales taxes that will be paid by the end of the year are main factors.
Let Surety1 find the lowest rate for your surety bond. Go to our application page and work with one of our skilled agents!