Kan. Admin. Regs. § 92-3-17a - License applications; bond requirements
(a) Each applicant
for a distributor, importer, or manufacturer license shall post a bond equal to
a three months' average tax liability. New businesses may submit a bond equal
to 25% of its estimated tax liability for a 12-month period. The bond shall not
be less than the minimum required by statute. The bond requirements shall be
met before a license is granted. The bond may be a surety bond executed by a
approved corporate surety or a cash bond. Either a cashier's check payable to
the director or an escrow account with a Kansas bank shall be used for a cash
bond.
(b) The director may reduce
the required bond to an amount equal to two months' tax liability, but not less
than the minimum required by statute, in consideration of a satisfactory
reporting history consisting of the prior 12 months in which there were no
delinquencies or returned checks.
(c) Motor fuel tax bonds and financial
statements shall be reviewed periodically by the director. The director may
require an additional bond or a current certified financial statement if:
(1) the existing bond or financial statement
is not sufficient to meet the current average three months' tax liability; or
(2) the licensee is not promptly
filing or paying tax; or
(3) the
corporate surety is no longer an approved surety. The licensee shall supply the
additional bond or certified financial statement within 60 days of receiving
notification. Notice shall be deemed received three days after depositing it in
United States mail, postage prepaid.
Notes
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