What is the Kansas Tobacco Products Distributor’s Tax Bond?
The Kansas Tobacco Products Distributor’s Tax Bond is a requirement of the Kansas Department of Revenue. This is proof of a tobacco products distributor’s sincere declaration to carry out business operations in a principled and competent manner.
The bond is likewise testimony of a tobacco products distributor’s eagerness to abide by the rules and regulations of the state governing one’s transactions. The bond also indicates that a tobacco products distributor has applicable and authentic government authorization to provide and supply tobacco products to retailers operating within the territorial jurisdiction of Kansas.
It exists to make sure that distributors act by all the provisions of K.S.A. 79-3374, which includes the making of reports and furnishing information as mandated by the Director of Taxation and paying all taxes directed by the Kansas Tobacco Products Law. At the same time, it guarantees that all business dealings will be performed judiciously and all workers hired will be duly compensated for all services rendered.
Why do you need the Kansas Tobacco Products Distributor’s Tax Bond?
You need the Kansas Tobacco Products Distributor’s Tax Bonds because you want to be viewed as a business owner of integrity and competence. This bond can boost your image as a product distributor within the industry. Most importantly, having this bond means gaining the trust of existing customers and drawing the attention of potential clients.
More details about the Kansas Tobacco Products Distributor’s Tax Bond
The bond remains valid until revoked. The surety firm can annul the bond at any time by submitting to the Kansas Director of Taxation a written request to be relieved from accountability. Termination will be effective 60 days from the receipt of the notice.
What is the cost of a Kansas Tobacco Products Distributor’s Tax Bond?
The Kansas Tobacco Products Distributor’s Tax Bond amount depends on the distributor’s volume of the previous year’s sales with a minimum of $1,000. The amount of the bond premium will depend greatly on the distributor’s credit score and financial history. If there are problematic transactions in the past, the business owner may be required to pay a higher premium. Other factors that can influence the determination of the bond’s premium include past business performance, reputation as an entrepreneur, and even personal profile, standing in the business community, and whether or not the business owner has some criminal record in the past.
How do I get a Kansas Tobacco Products Distributor’s Tax Bond?
Getting a Kansas Tobacco Products Distributor’s Tax Bond is easy. For faster results, choose a competent and legitimate Surety Bond Company to assist you. With the services of a qualified surety bond practitioner, you don’t only get to protect your business; you also get to safeguard your reputation and business image, provide valuable service to your clients, all in a cost-effective way.