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What is a Sales Tax Bond?
A sales tax bond is a type of surety bond, also known as a financial guarantee bond, that is required by local or state governments that ensures businesses pay their yearly taxes. It also ensures that the business will report all earnings, on time, according to specific local and state deadlines. As with all surety bonds, a sales tax bond is seen as insurance, a contract that promises payment by one party to the second party.
If you are looking for a trusted, national surety company to help you obtain a sales tax bond, The Surety Place is the company for you. We can get you any bond you need, in any state, no matter what your circumstances are, we have specialty programs to help when other sureties tell you no. We know the importance of obtaining a sales tax bond for business owners, so we get you the bond you need, leaving you to only have to worry about running your business. Leave the sales tax bond to the experts at The Surety Place.
FAQs About Sales Tax Bonds
Who needs to obtain a sales tax bond?In order to operate a business legally, many business across the nation are required to obtain a sales tax bond. Your local and state government will dictate when a sales tax bond is needed, and the requirements that go along with that specific bond based on your business, the size of it, yearly earnings, etc.
What businesses need a sales tax bond?If you are selling, producing, or storing alcohol, tobacco and cigarette products, fuel, or marijuana, you will need to obtain a sales tax bond for those specific items. You may also need a general sales tax bond, but your local and state governments will be the ones to specify the regulations you are required to follow.
How much does a sales tax bond cost?As with all bonds, the amount you are required to pay for your sales tax bond varies on a few different things. State regulations will have a minimum amount each business owner needs to post but also, the estimated amount of sales tax your business is required to pay each month will be what your bond amount is largely based off. Your personal credit can also increase or decrease the overall cost of your premium.
Will my personal credit effect my bond cost?Yes, personal credit will always play a significant role when trying to obtain any bond. Although it is possible to obtain a bond with bad credit, you are considered a financial risk to the Surety, which means you may need to provide other collateral in case a claim is made against your bond. Here at The Surety Place, we have programs for everyone, even hard to place bonds for those who have struggled financially in the past.
Contact us today for your bond!
National Surety, With a Local Feel
The Surety Place, previously known as Surety Placement Services, was founded in 2002 with a goal to bring innovation and a high level of service the industry had not yet seen. We can write any bond in any of the 50 states; we may have big capabilities, but we make sure that we always treat you like a local in our community. As an industry leader from the start, we are a people first surety bond partner that you can trust, offering access to agents and businesses to achieve the right solution at the right time.
Your Bond Needs Are Always Heard
We establish a relationship with you in order to truly understand your business focus whether large or small, complicated or difficult. As one of the only true specialists within the industry we supply access, partnerships and specialty programs with numerous “A” rated sureties across the nation. We are here to help you service all your bonding needs with no appointments or contracts necessary. Sales tax bonds are crucial for certain business owners, and we know that each state has different regulations around these bonds, which is why we ask that you trust in us to do the hard work for you. There is no need for you to do the research on your state and local government regulations, we take care of it for you because we know that your main concern should be running your business.
Because of our industry knowledge and expertise coupled with our ever increasing specialty programs, we have the unique ability to write your bonds when no one else can, and because of our relationship with you we will stand behind you in support to achieve your agency or business objectives.
Over 40 Years of Combined Surety Experience
Our dedicated account managers are highly trained underwriters who provide our agents and clients a tailored bonding solution for their individual or corporate needs. In today’s marketplace, surety access can be limited; but with Surety Place as your partner, you’ll find the white-glove service you have been looking for.
No matter how complicated your bond may be, or the size bond you need, Surety Place is built to find an answer. Poor credit, financial hardship, fast growth, or just getting your company off the ground, we the have options you need.
We understand business. We also understand how difficult it can be when something that seems like such a small piece of the puzzle gets in the way of closing the deal or moving forward. We take that pressure off your mind so YOU can get back to work.
Need help growing your bond department?
At The Surety Place, we pride ourselves in our customer service! If you have any questions regarding your sales tax bond placement, give us a call.