COMMERCIAL TRUCKING BONDS
Highway Use Tax Bond is a type of surety bond that promises you will pay your hightway taxes and are required by certain jurisdictions, depending on where you travel.
Do You Need a Bond?
- If you operate a commercial vehicle with a gross weight of over 26,000 pounds, you will need to get this bond (depending on where you travel).
- If you operate a commercial vehicle that is less than 26,000 pounds but you are hauling for-hire, you could also need to get this bond.
- If you are a new trucking company, you many need a bond to haul.
What Does a Use Tax or Surety Bond Do?
When you get an Highway Use Tax Bond, you are promising the state that you will pay your taxes. If you fail to do this, the state of can file a claim against your bond.
The surety bond company who issued your bond will investigate the claim and determine if it is valid. If it is, they will give you the opportunity to pay your taxes and satisfy the claim. If you fail to do so, the surety company will pay the state out of your bond amount.
The surety company will then come to you for reimbursement of that money. You are responsible for every penny of a bond claim.
QUESTIONS? Call 509-571-1656 or fill out the form to get a bond today!