How Surety Bonds Help Alabama Build Roads
When you fill up your tank at the gas station, part of the price you pay includes a gasoline tax. All states charge this tax on gasoline and diesel fuel, though it can vary from state to state as to how much tax is charged. While you may not like the idea of paying taxes every time you fill up your car, the gas tax provides valuable funds to the state to help pay for highways and mass transit projects.
With today’s automobiles becoming more fuel efficient, less gas is being used, and less money is being collected in gas taxes. Plus, many states have not raised their gas tax in a decade or more. When you add all to that the growing cost of highway construction, most states no longer collect enough gas tax to keep up with the demand of highway construction and maintenance.
It’s more important now than ever for the states to collect all gas taxes owed. In order to make sure tax revenue is collected from those who sell fuel, most states require licensed sellers to obtain a Fuel Tax Surety Bond. This bond is a guarantee from the seller to the state that they will pay the appropriate gas taxes.
Alabama’s Department of Revenue requires a Motor Fuels Surety Bond from the following:
How Do I Get A Fuel Tax Bond?
Sellers of fuel can apply for their bond online at SuretyGroup.com. Or, give our Surety Bond Specialists a call, and they will be happy to provide you a free quote. Premium amounts depend on the amount of the bond and other factors. In most cases, SuretyGroup.com can approve your bond today, and have it delivered to you tomorrow.
SuretyGroup.com – Your Online Bond Provider.
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