What is a Nevada Taxable Fuel Bond?
The Nevada Taxable Fuel Bond is a surety bond providing high assurance that all taxable fuel registrants will comply with all their tax obligations due to the government with regards to the activities of selling, mixing, and distributing fuel.
This is a bond that safeguards the State of Nevada and the public from fuel vendors who conduct themselves in a fraudulent manner or attempt to elude paying their taxes, fines, and penalties.
Why do you need the Nevada Taxable Fuel Bond?
You need the Nevada Taxable Fuel Bond because your enterprise is vital to you and you consider your vocation as important. The bond is a sure feather on your cap which other entrepreneurs in the industry may not possess thereby making you a complete stand-out. With this bond, existing clients and prospective patrons will consider you as an entrepreneur of reliability, integrity, and respectability.
More details about the Nevada Taxable Fuel Bond
The Department will fix the total amount of the bond at not less than three times the anticipated maximum monthly tax, but the amount must not be less than $1,000 for an individual fuel supplier and must not be less than $100 for a special fuel dealer.
If a special fuel supplier or special fuel dealer is customarily delinquent in the payment of amounts due, the Department may increase the amount of his or her security to not more than five times the anticipated maximum monthly tax.
No recovery on any bond, execution of any new bond or suspension or revocation of any license as a special fuel supplier, special fuel dealer, special fuel user, or special fuel manufacturer affects the validity of any bond
If the holder of a license as a special fuel supplier or special fuel dealer is required to provide a bond of more than $5,000, the Department may reduce the requirements for the bond to not less than $5,000 upon the faithful performance of the special fuel supplier or special fuel dealer of all the requirements and the punctual payment of all taxes due to the State of Nevada for the 3 preceding calendar years.
What is the cost of a Taxable Fuel Bond?
The amount of bond must be in an amount determined by the Department, taking into account the applicant’s financial capabilities, tax history, and expected liability.
How do I get a Nevada Taxable Fuel Bond?
Getting a Nevada Taxable Fuel Bond is simple. Choose a reliable surety company and call ASAP! An experienced surety professional will enthusiastically provide you with answers to whatever concerns you have in the operation of your business.