California Bond of Seller
AmeriPro Surety Bonds | 844-589-9732
Sales And Use Tax
A California bond of seller is required of certain business under the California Sales and Use Tax Law. The surety bond requirement is a mandate of the state’s Board of Equalization.
The bond is a financial guarantee for the state that businesses which are required to obtain the bond will remit sales taxes which become due, including any and all interest and penalties.
Amount of Surety Bond Required
According to California’s Revenue and Taxation Code, Section 6701, the Board will tell you the amount of surety bond required.
That having been stated, the amount of surety bond required:
- Will not be greater than twice the estimated liabilities of filing returns for quarterly periods;
- OR, more than 3 times the estimated average liability for monthly periods;
- OR $50,000, whichever amount is less.
Qualifying and the Premium
To qualify for the California bond of seller surety bond, you will need to complete, sign, and have witnessed a short surety bond application and undergo a review by an underwriter. This review also includes a credit check.
To be approved by our agency, good credit is required. The approval rate is 2%, with a minimum premium of $100.
Once your application is approved, and the premium is paid, our agency issues the bond for your filing. You will be sent the following: 1. An original surety bond. 2. A document that is notarized by our agency 3. A Power of Attorney form.
Upon receipt, you’ll sign your bond as Principal. The address to file you bond of seller is:
Board of Equalization – Oakland District Office
1515 Clay Street, Suite 303
Oakland, CA 94612
Term of Your California Bond of Seller
Your bond of seller surety is active for one year from the date of issuance. The bond and the premium renew annually.
Since the bond amount required is determined based on the above calculations, it is possible that upon renewal, a different surety bond amount will be required.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate and other surety bonds in California and all 50 states.
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Or, you may fill out the form below and a Surety Agent will contact you…