Alabama Playing Card or Tobacco Tax Bond
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NOTE: AS OF MAY 1, 2015, ALABAMA HAS SUSPENDED THE PLAYING CARDS TAX FORMERLY COLLECTED. A TAX BOND IS NO LONGER REQUIRED.
How much does a tobacco tax or playing cards tax bond cost in Alabama?
The Alabama Department of Revenue’s Sales, Use and Business Tax Division requires individuals who sell tobacco and/or playing cards to post tax surety bonds in varying amounts prior to conducting business. Applicants should verify their required bond amount with the state prior to bonding.
These bonds are subject to underwriting, so the price you’ll pay depends not only on your required bond amount but also on a review of your personal credit report.
Why do I need this bond?
Alabama tobacco tax and playing cards tax bonds ensure that principals (professionals who sell tobacco and or playing cards) pay all taxes due to the state according to state law. If these professionals fail to pay all sums due and fail to adhere to the terms of the surety bond contract, the bond protects the state from financial loss up to the full bond amount.
What’s the fine print?
Tobacco tax and playing card tax bonds in Alabama remain in full force and effect until violated or canceled. The surety can send written request for cancellation of the bond to the Alabama Department of Revenue, and the state can release and discharge the surety of all liability after 60 days have passed from the receipt of the written request.
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
