Missouri Transient Employer Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose; Calculation
Businesses which employ transient employers in Missouri are required to post a surety bond according to the formula below.
The bond serves as a financial guarantee for the state’s Department of Revenue, that all related taxes, fees, interests, late penalties and assessment associated with being a transient employer will be paid in a timely manner.
The calculation for the surety bond required of you is as follows:
- It is a minimum $5,000 surety bond or the calculation below, whichever amount is greater;
- Missouri withholding tax minus monthly gross wages X 6% = (that number) X 3 = a.);
- Missouri unemployment tax average number of workers (that number) X $7,000 = (that number) X 3.38% (that number) divided by 4 = b.)
- the number from letter a.) added to the number of letter b.) equals the surety bond amount required of you.
Qualifying and the Premium
Qualifying for the Missouri transient employer bond includes completing a surety bond application and undergoing an underwriter review of your application.
We will begin the surety bond application with you by phone; however, you’ll need to both sign and complete your application. This application can be sent to you for completion by Docusign.
Upon return of your completed surety bond application it is reviewed by an underwriter. The underwriter review will include a soft credit check inquiry.
To be approved for your transient employer bond by our agency, good credit will be required.
Upon approval of your surety bond and payment of the premium, our agency issues your bond and a Power of Attorney form.
Our agency will sign your bond as Surety; you will sign your bond as Principal. You’ll thereafter file the original bond and POA form to:
Missouri Department of Revenue
P.O. Box 3300
Jefferson City, MO 65105
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, Court, probate, and other surety bonds in Missouri and all 50 states.
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