Sales Tax Bonds
What is a Sales Tax Bond?
A Sales Tax Bond promises that the merchant will pay sales tax to the obligee (e.g. state government) from purchase of their goods or services. Failure to pay collected funds to the obligee or incorrect reporting can result in a bond claim.
Current Market: Unlike most financial guarantee bonds, sales tax bonds are still being written withut collateral by bonding companies.
Special Programs: High risk programs are available for those who can not obtain an approval through a traditional surety bond program. These bad credit surety bond programs have larger rates than a standard market due to the increase in claims of the high risk applicants.
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