Michigan Highway Use Tax | Highway Use Tax Surety Bond
Also known as: highway use tax bond
Type of Bond
A Michigan Highway Use Tax Bond is a type of surety bond required by the Michigan Department of Treasury for certain individuals or businesses engaged in activities that involve the use of motor vehicles subject to the state's highway use tax. The highway use tax is a tax imposed on motor carriers that operate vehicles weighing more than 26,000 pounds on Michigan highways. The tax is based on the number of miles driven in the state and is used to support the construction and maintenance of Michigan's highways. To ensure compliance with the highway use tax requirements, the Michigan Department of Treasury may require motor carriers to post a surety bond. This bond serves as a financial guarantee that the carrier will fulfill their tax obligations and pay the appropriate taxes on time. If a motor carrier fails to pay the required taxes, the bond can be used to provide compensation to the state for any unpaid amounts. The bond amount typically depends on the carrier's estimated tax liability and may vary based on individual circumstances. It's important to note that this information is based on my knowledge cutoff in September 2021, and there may have been updates or changes to the specific requirements or regulations regarding Michigan Highway Use Tax Bonds. To obtain the most accurate and up-to-date information, it is recommended to consult the Michigan Department of Treasury or a licensed surety bond provider.
Program
The price you'll pay for your Highway Use Tax Bond is generally based on your personal credit score. Start a free online quote by just completing a simple app or by calling 888-518-8011. Our experts will walk you through a very simple process. Compare our quote as the very lowest price, and then you're good to go! It's that simple!
We provide all types of Highway Use Tax Bonds. Worldwide Insurance Specialists, Inc. has "in house" underwriting authority with the largest and best Surety (Insurance) companies in the world including, Great American, Liberty Mutual, Philadelphia, Travelers, and CNA Surety. All of these surety bond companies are A-rated under the AM Best credit rating system, and T-listed with the U.S. Department of Treasury. This guarantees that by getting bonded through us, you will be provided the backing of these highly trustworthy and reliable companies.
Application
The application process for a Highway Use Tax Bonds is easy! Many Bonds are INSTANT ISSUE! Easy Application, no underwriting, no credit check, no GIA required. Our NEW Desktop underwriting program provides you with a rapid approval process used to determine the degree of risk that you (the Principle) complete a project or obligation. Non-INSTANT ISSUE quotes can also get instantly approved. Submissions require very little information from you. Once you file and sign an indemnity agreement, we issue the Bond. It's that simple! We quote and issue Surety Bonds of every type and will help you through the entire process. These applications only require basic information about your business, bond type, and ownership structure. Once the application is complete, we submit to the insurance company (Surety) who will then issue your bond. Don't pay too much! Get your Bond Fast, and Easy with the best price! Click here to start the Highway Use Tax Bond Application process.
Obligee Information
An obligee is the entity that is requiring you to have the Highway Use Tax bond.
Obligee: Michigan Department Of Transportation
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!