Sales Tax Bonds
Sales Tax Bond is a state surety bond. It is a promise that the merchant will pay sales taxes to the oblige (in most cases the state government) from all purchases of their good and services.
A sales tax bond is considered a financial guarantee surety bond. Failure to pay the required taxes to the oblige or incorrect reporting can result in a bond claim. Gross receipts or the projected sales taxes that you may be paying at the end of the year usually calculate the sales tax surety bond amount. Each state has its own sales tax form. A sales tax bond form is usually supplied to you by the oblige (State). High-risk programs are available for those who cannot obtain a standard rate through the traditional surety bond program. These high-risk surety bonds for clients with poor credit history pay higher rates than a standard market due to the increase in claims.
- Sales Tax Bonds Rates start from 3% and up of the bond amount.
- Most sales tax bonds are issued within 24 hours.
- Rates is based on your credit history.
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