N.H. Code Admin. R. Saf-C 303.04 - IFTA Bond Requirement

(a) The administration shall require a bond executed by a surety company in the event of failure to pay taxes in accordance with the provisions set forth in Saf-C 303.01(a).
(b) The bond required pursuant to (a) above shall be in an amount equal to the quarterly IFTA tax liability of the licensee.
(c) In lieu of furnishing a bond executed by a surety company, a licensee may deposit cash or cash equivalent to the state treasurer in the amount of the bond required pursuant to this section.
(d) In lieu of (a) or (c) above, a licensee may file a letter of credit from his/her bank that is in compliance with the Uniform Commercial Code, stating that the bank will honor demands for payment necessary to meet the requirements of this section.
(e) After 4 consecutive quarters, in the event that all taxes have been paid, the licensee shall be released from the requirements of this section.


N.H. Code Admin. R. Saf-C 303.04

(See Revision Notes #1 and #2 at chapter heading for Saf-C 300) #10032, eff 11-22-11

Amended by Volume XLI Number 19, Filed May 13, 2021, Proposed by #13186, Effective 4/7/2021, Expires 4/7/2031.

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