fuel tax bonds

Why This Is Important, Fuel Tax Bond

We write Motor Fuel Tax Bonds in the state of Oklahoma. Sec. 12-458d. Imposition of fuel excise tax. (a) An excise tax per gallon of fuel, as outlined in subsection (b) of part 12-455a, is hereby imposed within the following amounts on the next dates, upon all individuals licensed to promote fuel underneath the provisions of section 14-319: Two cents per gallon on December 31, 1992, one cent per gallon on June 30, 1993, one cent per gallon on December 31, 1993, one cent per gallon on June 30, 1994, one cent per gallon on December 31, 1994, one cent per gallon on June 30, 1995, one cent per gallon on September 30, 1995, one cent per gallon on December 31, 1995, one cent per gallon on March 31, 1996, one cent per gallon on June 30, 1996, one cent per gallon on September 30, 1996, and one cent per gallon on December 31, 1996, provided no excise tax shall be imposed on diesel fuel on and after August 31, 1991.

2.3.3 Only a licensed particular fuel Supplier may provide or place special fuel right into a bulk storage tank able to redistribution which doesn’t show a tax exemption sticker thereon. If a tax exemption sticker isn’t in proof, the licensed Supplier must include the applicable tax in the worth of the fuel and remit similar to this Division month-to-month.

Fuel Tax Bond, An In Depth Look

A fuel tax bond is a guarantee that fuel sellers purchase guaranteeing their payment of state taxes on the fuel purchased. Because low credit candidates constitute a higher risk for sureties, and attributable to fuel tax bonds presenting an increased threat as properly, charges under our low credit score program are considerably greater. Candidates with low credit can anticipate to obtain quotes on their fuel tax bonds that are between 10%-20% of the overall bond amount.

Jet Fuel Suppliers are required to file with the Department of Income a surety bond issued by a surety company licensed to do enterprise within the Commonwealth of Massachusetts. Usually, bonds are for one yr and canopy the period from January 1 (or the efficient date of the license) by way of December 31 or the date that the license is suspended, revoked or otherwise cancelled. Jet fuel bonds should be equal to three months average tax liability however not lower than $10,000. Failure to obtain the required bond will lead to a denial of the license software.

Registration Software for Diesel Fuels Refund-Customers (Type R-5377) should be completed and a certificate issued from the Department earlier than the clear kerosene or diesel fuel is purchased.

All NM Taxes

We write Motor Fuel Tax Bonds within the state of Oklahoma. Motor fuel and diesel fuel used by mass transit system suppliers. Diesel fuel utilized by motor coaches throughout idle time.

By possessing an IFTA (Worldwide Fuel Tax Agreement) Bond, you’re telling your Obligee that you could be trusted as a Principal and that you stand behind your small business choices.

What Companies Need To Know About Fuel Tax Bond

Vermont diesel fuel tax applies to all clear diesel. If you wish to know precisely how a lot you’ll need to pay in your fuel tax bond, apply to your bond by submitting your software. Once we process your application, we will contact you along with your no-obligations quote, which is fully free.