Revenue Ruling 81-00-1
Supersedes Revenue Ruling 81-93-1

Motor Vehicle Fuels Tax - Bond Requirements. THE MINIMUM SURETY BOND REQUIRED FOR MOTOR VEHICLE FUELS LICENSEES IS $10,000.

Advice has been requested regarding surety bond requirements for Motor Vehicle Fuels Licensees.

An applicant for a motor vehicle fuels license may be required to furnish and maintain a surety bond for the first year of a new license to assure the required reporting and payment of tax, interest, or penalties. Security may also be required from a licensee when necessary to ensure compliance with the Nebraska Motor Vehicle Fuels Tax laws. The amount of the bond, when required, must equal approximately three times the monthly tax liability of the licensee to the next higher multiple of $1,000. The minimum surety bond requirement is $10,000.

APPROVED:
Mary Jane Egr
State Tax Commissioner

February 22, 2000