The state of Virginia has set forth a new law intended for Indian tribes named HB 96/SB 359. The law requires Indian tribes to follow the same benefit and tax payment laws as non-profit and governmental organizations. Indian tribes that choose to finance employee benefits through payments into a fund in lieu of taxes are required to make a deposit of cash/securities or post a surety bond. The new law became active upon enactment.
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Virginia Employee Benefits Tax Bond
September 5, 2009 by Eric WeisbrotDiscuss: Comments (0)
Category: Commercial Bonds, Surety News
Tags: bond requirements, employee benefits, legislation, surety bond, tax bond, va, virginia
