Utah Withholding Tax Bond Guide
Learn all about the withholding tax bond requirements for Utah businesses and bonding process in this guide.
Bond Overview
- Purpose: To ensure businesses fulfill their withholding tax obligations
- Who Needs It: Businesses with a history of failing to remit withholding taxes
- Regulating Body: The Utah State Tax Commission
- Required Coverage: $25,000–$500,000
- Premium Rate: 1–10%, credit-based
What Is a Utah Withholding Tax Bond?
A Utah withholding tax bond ensures that a business or individual will remit their withholding taxes to the State Tax Commission.
Some businesses or individuals may be required to file this bond if they have a history of delinquent withholding tax reporting or payment.
How Much Do Withholding Tax Bonds Cost in Utah?
Utah withholding tax bonds cost a small percentage of the required bond amount, typically 1–10%.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Utah withholding tax bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll email you the bond shortly after purchase. Be sure to file the bond with the state as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Utah Withholding Tax Bond Work?
As with all surety bonds, a withholding tax bond creates a legal contract between three parties:
- Principal: You, the business owner(s) filing the bond
- Obligee: The Utah State Tax Commission requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for paying all withholding taxes, interests and penalties.
If you break the bond terms, the state can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your withholding tax bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.