Sales Tax Bonds
A sales tax bond, comptroller bond, or continuous bond of seller is a bond that protects the government by ensuring retailers will pay adequate sales taxes on yearly acquisitions. Failure to conduct business accordingly can result in the retailer being liable for a claim and responsible for fines up to the amount listed on the sales tax bond
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.
We are based in Houston, Texas and we have issued 1000's of surety bonds in the past 20 years, but we also service and process sales tax bonds in Dallas, El Paso, Brownsville, Austin, Waco, Amarillo, and through out the State of Texas.
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What is a Sales Tax Bond?
A sales tax bond, comptroller bond, or continuous bond of seller is a bond that protects the government by ensuring retailers will pay adequate sales taxes on yearly acquisitions. Failure to conduct business accordingly can result in the retailer being liable for a claim and responsible for fines up to the amount listed on the sales tax bond
Why do I need a Texas Comptroller Bond?
The Texas Comptroller of Public Accounts requires all retailers in the state to obtain a continuous bond of seller before conducting business. A sales tax bond is issued to those applying for a permit to participate in business as a seller (vendor). By posting a Texas continuous bond of seller, the principal (retailer) agrees to pay all sales tax on items sold. Sellers and retailers required to obtain this bond include:
- persons making sales at auctions of tangible personal property
- persons who make more than 2 sales during a 12-month period
- hotel, motel, bars, restaurants or retail, office owners
- persons who regularly solicit sales of taxable items by distributing advertising
- persons authorized to sell, rent or lease property
Why Get a Sales Tax Bond with ABC Bonding of Texas?
· Affordable Rates, No hidden fees
· Experience, in Business since 1988
· Great Service
· Fast Approvals & Same day Delivery
· Free price quotes – No obligation to buy
· Friendly Staff
· Most sales tax bonds are issued on the same day
· Apply online 24/7
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