Revenue Ruling 85-00-1
Supersedes Revenue Ruling 85-93-1

Aircraft Fuels Tax - Bond Requirements. THE MINIMUM SURETY BOND REQUIRED FOR AIRCRAFT FUELS LICENSEES IS $10,000.

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

An applicant for an aircraft 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 Aircraft 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