Sales Tax Bond

What is a Sales Tax Bond?

A Sales Tax bond guarantees that taxes are collected and will be remitted to the state according to the gross receipts for the products the company is collecting tax on. Sales Tax bonds are normally required if you are selling or producing tobacco, alcohol, fuel, etc.

How does a Sales Tax Bond work?

A Sales Tax bond is put in place as a promise to the obligee, that the principal will pay their taxes according to the state and government’s deadline. If for some reason, the company cannot make the appropriate payment, a claim may be file against them in the amount of taxes owed to the licensing department.

How much does a Sales Tax Bond Cost?

The cost of a Sales Tax Bond may vary from each individual, state, and possibly the financial assets of the company. The cost for this type of bond is typically based on the credit history of the owners of the company. All owners with 10% or more ownership will be taken into consideration. Other factors to take into consideration would be the amount of the bond and the term the bond is required to be in place. Should an account be considered borderline, we may need to review personal or business financials to secure a quote. At Express Surety Services we specialize in placing clients in any circumstance that may present itself from “superior credit” to “less than perfect credit” and everything in between.

How to Choose a Bonding Company?

Express Surety Services offers Surety Service Made Simple. We are the fastest surety-only agency in the country, with over 100 years of combined surety experience servicing all 50 states. We exhaust all of our resources to get you the fastest turnaround times and lowest rates. We can help anyone, even clients that may not fit into the standard market.

How long does it take to get a Sales Tax Bond?

Express Surety Services can issue bonds the same day an application is received. The amount of time between application and issuance is affected by a number of factors though, including but not limited to, the size of the obligation, the type of bond, and promptness of the premium payment.

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