Mileage Tax Bond
The State of Illinois has required the obtainment of the Mileage Tax Bond. The required bond amount is $500 per vehicle. This bond must accompany the application. A copy of the vehicle(s) information, such as, year, make, serial number, and license plate number will have accompany the bond information.
The bond helps ensure that the applicant will comply with all regulations, rules, and laws when performing in Illinois. This bond will protect your clients from malpractice or detriment done by your company. These wrongdoings can be any person damaged by any misrepresentation or fraud of your services.
The bond helps guarantee that the applicant will follow all regulations, rules, and laws. This bond will protect the state by guaranteeing faithful and honest performance. The bond provides surety in regaining losses in fees, fines, and expenses imposed by state regulators. If there are any poor financial decisions, damages, or violating of any laws or regulations, this bond will be used in favor of the state.
The surety company will payout if you are found at fault for a claim on your bond. These bonds are freely written and do not require a credit check. A quote can be obtained by completing the online application.
Link to Illinois Tax Registration & Installment Payments Information: