Sales Tax Surety Bond is not a federal surety bond but rather a State surety bond. Is a promise that the merchant will pay sales tax to the oblige (in most cases the state governmental tax department) from all purchases of their good and services. A sales tax bond is considered a financial guarantee surety bond. Failure to pay the required taxes to the oblige or incorrect reporting can result in a bond claim.
Gross receipts sales Tax Bond or the projected sales taxes that you may be paying at the end of the year usually calculate the sales tax surety bond amount. Each State has their own sales tax form. A sales tax bond form is usually supplied to you by the oblige. In some states they require a sales tax bond are California, Arizona, and Texas.
Unlike most financial guarantee bonds. Sales tax bonds are still being underwritten without collateral by bonding companies.
High risk programs are available for those who cannot obtain a standard preferred rate through the traditional surety bond program. These high risk or bad credit surety bond programs have higher rates than a standard preferred market due to increase risk in claims. Rates for a high risk program can run from 3% to 15% of the bond amount.
Most Sales Tax Bonds are Issued on the Same Day.
Quotes are Always Free with No Obligation to Buy.
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