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How much does a motor fuel distributor bond cost in New Hampshire?
New Hampshire motor fuel distributor bond amounts are equal to approximately 2 times the monthly road toll liability of the licensee. Since this bond is considered a financial guarantee, surety bond costs are determined in an underwriting process. This means rates are based on applicants’ personal credit reports.
The best way to determine your exact surety bond cost is to speak with a surety bond expert by calling 1 (800) 308-4358. You can also request a free surety bond quote online now!
Start the bonding process now by calling 1 (800) 308-4358 or by applying for a free bond quote online.
Why do I need this bond?
This bond ensures that principals (motor fuel distributors) file accurate reports and pay all taxes and road toll fees in a timely manner. Distributors must pay road toll fees of $0.222 per gallon. The bond form language also requires principals to comply with the provisions of Chapter 260 of the New Hampshire Revised Statutes Annotated 1955.
What’s the fine print?
The federal employer identification number must be listed on the bond form, if applicable. The principal’s signature on the bond form must be witnessed by a notary public. If all taxes have been paid after four consecutive quarters, the licensee no longer needs a surety bond.
How to become a motor fuel distributor in New Hampshire
Individuals applying for a motor fuel distributor license must file form RT 132: Application for Motor Fuel and Aviation Fuel Distributor License. Licensees must renew their licenses and bonds annually between the period of June 30 and July 31.