Nevada Sales Tax Bond

Nevada Sales and Use Tax Bond

In order to qualify for the required sales tax permit with the Nevada Department of Taxation, retail businesses must file a Sales and Use Tax Bond. 

Jet Insurance Company provides the Sales Tax Bond to Nevada retail business owners as an assurance to the Department of Taxation that the individual will abide by the regulations of their permit and fulfill payment of all sales taxes due. The surety bond acts as a financial guarantee for the Department of Taxation if the permittee fails to pay all sales taxes, accrued interest, penalties, and any other fees owed. 

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At Jet, we don’t use middlemen agents or brokers who elongate the process and add on commission fees. We act as a direct surety provider so that our team can offer all of our applicants fast and affordable service!

How Is the Bond Limit Determined for the Nevada Sales Tax Bond? How Much Does It Cost?

The Nevada Department of Taxation determines the custom bond amount based on the estimated monthly, quarterly, or annual amount of taxes accrued by the retailer?the reporting and payment timeline of the retailer’s sales taxes is decided by the Nevada Department of Taxation. 

Jet’s rates for the Sales Tax Bond are based on a small percentage of the custom bond limit and the personal credit score of the retail business owner. For example, applicants seeking a bond amount of $10,000 could pay as low as $100 annually or $10 monthly.

Our monthly payment plan is perfect for retail business owners as they can keep their Sales and Use Tax Bond active for as long as they plan to be in business. All you have to do is set up the payment from your preferred account and your bond will remain active until cancellation is requested.

Why Is the Sales Tax Bond Required in Nevada?

The Nevada Department of Taxation is responsible for licensing individuals throughout different industries and managing their taxes that ultimately fund government agencies and the State. This includes sales taxes accumulated from retail businesses which is why a sales tax permit and the Sales Tax Bond are required of all retail business owners in the State of Nevada. The sales tax permit holds the individual accountable for their actions and ensures that they will abide by the regulations of their permit, while the Sales Tax Bond acts as a financial guarantee for the Department of Taxation if the permittee fails to fulfill such obligations. 

The surety bond essentially removes the risk factor the Department of Taxation faces if the permittee doesn’t pay all sales taxes, accrued interest, penalties, and any other fees owed as the surety provider (Jet) will end up paying those out through a bond claim.

How to Apply for the Nevada Sales and Use Tax Bond With Jet

Jet’s online application for the Sales Tax Bond was created to be straightforward and quick. You can begin by filling out some general information such as when your reports and sales tax payments are due, your contact information, the bond limit, and your social security number. A soft credit check will be run to get you an approved rate, but don’t worry, this won’t affect your current credit score. 

After you have submitted your application, a Jet team member will take a quick look at your application, and once available, approved rate options will be sent to you via email. If you’d like, you can purchase your bond right then and there. You’ll receive a copy of the bond form and receipt soon after.

Can Jet File the Nevada Sales Tax Bond for Me?

Yes, Jet can file the Sales Tax Bond for you at no extra cost! The original signed and sealed Sales Tax Bond must be filed with the Nevada Department of Taxation’s Carson City office. The surety bond must then remain on file to maintain an active sales tax permit. 

If you would rather file the bond yourself, Jet allows this option to be selected at checkout. All required documentation should be sent to the following mailing address:

State of Nevada Department of Taxation
1550 College Parkway, Suite 115
Carson City, NC 89706

If you are registering for a sales tax permit for the first time, you can do so through the “Online Services” webpage (permit renewals can also be completed here). Further information about the registration process can be found on the “Sales Tax Information & FAQ’s” webpage.

Can I Cancel My Nevada Sales Tax Bond and Get a Refund?

If for any reason you need to cancel your Sales Tax Bond, you can do so by sending a written request to us at [email protected] and we’ll get started on the bond cancellation process. Notice of your surety bond’s termination will be sent to the Nevada Department of Taxation right away, and liability of the bond will be released within 30 days of receipt of such notice. 

Jet is required to charge monthly payment bondholders for the 30-day liability period as the bond is technically still active during that time. Payments will immediately cease as soon as this mandated timeline is over and the bond has been officially deemed cancelled. 

As for refunds, Jet will reimburse any unused premium for bondholders that bought a multi-year bond term that was cancelled early; we do not give refunds for 1-year bond terms as the premium is fully earned.

How to Renew the Nevada Sales and Use Tax Bond

Jet’s monthly payment plan gives you the added benefit of not having to worry about renewing your Sales Tax Bond. Your bond will remain active as long as payments continue to come out of your preferred account. If you ever need to update this info, just give us a call at 855-296-2663 and we’ll fix the problem right away.

For bondholders that make annual or multi-year payments with Jet, we will send you a renewal invoice to your email and physical mailing address in the form of a few reminders before your bond term expiration date hits. All we need from you is payment and you’ll be all set for another bond term with Jet.

The Nevada Department of Taxation can increase or decrease your custom bond limit at any time. If this occurs and your bond limit ever needs to be updated, you can let us know by email at [email protected] or call our office at the number above and we will get the bond updated to reflect the new bond limit.

How Does a Retail Business Owner Avoid Nevada Sales Tax Bond Claims?

Registered retail business owners in Nevada are expected to follow all regulations pursuant to Nevada Revised Statutes Title 32, Chapters 372, 374, 377, 377A, and 377B. If the Nevada Department of Taxation finds that the permittee has committed a violation, they may inflict interest and or penalty fees onto the individual’s account, and the revocation or suspension of the retailer’s permit is a possibility.

Claims on the Sales Tax Bond will typically only occur if the permittee consecutively fails to pay all sales taxes, interest, and any other penalty fees charged due to permit violations. This scenario can occur if the retail business owner refuses to pay what is owed to the Nevada Department of Taxation or simply is unable to do so due to a financial decline in their business. 

You can avoid a claim on the Sales Tax Bond by making your sales tax payments on time, and if a violation ever occurs, it is in your best interest to try and resolve the issue before penalty fees add up and an official claim is filed on your bond. 

What Happens if I Get a Nevada Sales Tax Bond Claim?

A Jet team member will immediately contact you if we ever receive a Sales Tax Bond claim notice from the Nevada Department of Taxation. We will begin the claim process by asking you for all available documentation and information regarding your accused violation. These tools will be used for our own review and investigation of the bond claim.

If the claim is justified, Jet is legally obligated per the Sales Tax Bond form to make payment for the claim amount, but not to exceed the bond limit. As the sales tax permittee of your retail business, you are ultimately held responsible for your actions and must reimburse Jet for the claim payout made on behalf of your violations. An omission to do so can lead to future difficulties in obtaining a surety bond in the State of Nevada, specifically the Sales Tax Bond which is needed in order to be granted a sales tax permit. 

What Happens if I Get a Nevada Sales Tax Bond Claim?

Yes, there are multiple Tax Performance Bonds (including the Sales and Use Tax Bond) in Nevada, depending on the type of work being performed. Review the other two below:

Nevada Sales and Use Tax Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: