Get a Sales Tax Bond Now
If you’re looking for information on sales tax bonds, you’ve come to the right place. To make the bonding process less stressful, SuretyBonds.com developed this guide just for you.
State Specific Costs
Sales tax bond costs and requirements vary greatly as the bond amounts and regulations surrounding each bond are established on a state level. Select your state below for more information about sales tax bonds in your area or call 1 (800) 308-4358 to speak with a surety expert.
Get Your Sales Tax Bond Quote Today
If you apply for the bond you need today, you’re guaranteed to get a price quote within 24 business hours. SuretyBonds.com is licensed to issue surety bonds in all 50 states, which means we can help you no matter where you operate your business. You’ll get a fast, easy and accurate surety bond process when working with SuretyBonds.com.
Bad Credit? No Problem!
Because the specialists at SuretyBonds.com work as brokers, they’ll shop your bond around with trusted insurance companies to find you the lowest surety bond rate available. Don’t worry if you’ve had credit issues in the past. We sponsor a special bad credit bonding program.
Need Your Bond Tomorrow? Apply Today!
If you need your sales tax bond ASAP, you can apply today, choose our overnight shipping option and have the original bond form in your hands tomorrow. At SuretyBonds.com, we know you don’t want to waste time waiting for your bond. Our specialists work hard to ensure you get your bond quickly.
How Do Tax Bonds Work?
Each sales tax bond that’s issued is a legal contract that binds three entities together.
- The principal is the business owner or working professional who purchases the bond as a way to guarantee proper tax payments in the future.
- The obligee is the government agency that requires the bond to ensure taxes are paid appropriately.
- The surety is the insurance company that backs the bond with a financial guarantee.
In the event of misconduct, a claim can be filed against your bond. If the claim is proven, the surety will pay out the claim up to the full amount of the bond coverage (for example, a $3,000 claim will be paid out in full from a $10,000 bond). The principal (the bond holder) must then reimburse the surety for the claim amount.
Why Do I Need a Sales Tax Bond?
Each sales tax bond that’s issued provides a financial guarantee that a business entity or individual will pay all anticipated sales taxes to the appropriate government agency. The bond also requires you to report your earnings accurately at the appropriate times (annually, quarterly, etc.) If you fail to report or pay taxes appropriately, the government agency can make a claim on your bond to recover unpaid taxes.
How Much Coverage Do I Need?
The size of bond you’ll need will be based on the gross receipts or the projected sales taxes that you’ll likely pay at the end of the year. Some businesses that frequently need surety tax bonds include:
Before applying for a bond, you should check with your local state, county and city government agencies to verify bonding requirements.