Minnesota Statutes 297E.17 – Distributor’s Bond
Current as of: 2023 | Check for updates
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On finding it necessary to ensure compliance with this chapter, the commissioner may require that a distributor deposit with the commissioner security in the form and amount determined by the commissioner, but not more than the lesser of (1) twice the estimated average monthly tax liability for the previous 12 months, or (2) $10,000.
Terms Used In Minnesota Statutes 297E.17
- Commissioner: means the commissioner of revenue or a person to whom the commissioner has delegated functions. See Minnesota Statutes 297E.01
- Distributor: means a distributor as defined in section 349. See Minnesota Statutes 297E.01
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
- Tax: means any fee, charge, exaction, or assessment imposed by a governmental entity on an individual, person, entity, transaction, good, service, or other thing. See Minnesota Statutes 645.44
In lieu of security, the commissioner may require a distributor to file a bond issued by a surety company authorized to transact business in this state and approved by the commissioner of commerce as to solvency and responsibility.
The commissioner may make claim against this security or bond for all taxes, penalties, and interest owed by the distributor.