Mississippi Petroleum Tax Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose
Mississippi distributors of “Special Fuel” — defined as dyed or undyed diesel fuel, kerosene, fuel oil, bio-diesel, or jet fuel — are required to furnish a surety bond by the state’s Department of Revenue Petroleum Tax Bureau.
There is no present surety bond amount; it is determined on a case-by-case basis.
Your surety bond serves as a financial guarantee for the Department that all taxes, interest, and fees owed on the distribution of fuel will be paid in a timely manner in accordance with all current state regulations.
Qualifying and the Premium
Qualifying for the Mississippi petroleum tax bond includes providing our agency with the amount of surety bond required of you and completing a short surety bond application.
Your application will need to be both signed and witnessed, and then sent to us by email via scanning.
Upon receipt of your completed application, it is reviewed by an underwriter. The underwriter review procedure includes a credit check inquiry.
Good credit is required for approval through our agency. The rate is typically 1%, although the premium will be at least $100 annually.
Upon approval of your petroleum tax bond and payment of the premium, your bond is issued to you immediately along with a Power of Attorney form.
The original bonds are what you’ll file with the state. Upon receipt by mail, you’ll need to sign your bond as Principal, filing all surety bond documents received to:
Department of Revenue
Petroleum Tax Revenue
P.O. Box 1033
Jackson, MS 39215
Your petroleum tax bond is issued for a one year term and will renew on the anniversary of its issuance. At that time, or before then, you may either update the amount required, or renew your bond for the same amount and premium.
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