What is an Florida Fuel Tax Bond?
Florida Fuel Tax Bond's are required by Florida's Department of Revenue to obtain your Florida Fuel Tax Bond. The Florida Fuel Tax Bond amount is set at $10,000.
The State requires a Fuel Tax bond for :
a $10,000-$300,000 surety bond based on money that is owed.
Different parts of a bond:
There are 3 parts to a Fuel Tax surety bond. The Principal "YOU", The Surety Company, and the Obligee. The Principal is the business or individual applying for the Fuel Tax Surety Bond. The Obligee is the individual or entity requiring the Surety Bond and the Surety Company is the company who provides the Surety Bond coverage.
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Florida Fuel Tax Bond Information and Requirements:
The Florida Department of Revenue is responsible for administering fuel taxes for the state of Florida. For purposes of tax administration, fuel is defined as motor, diesel, aviation, or natural gas fuel.
- Motor Fuel or Fuel: All gasoline products or any product blended with gasoline or any fuel placed in the storage supply tank of a gasoline-powered motor vehicle.
- Diesel Fuel: All petroleum distillates commonly known as diesel #2, biodiesel, or any other product blended with diesel or any product placed into the storage supply tank of a diesel-powered motor vehicle.
- Aviation Fuel: Fuel for use in aircraft, including aviation gasoline and aviation turbine fuels and kerosene, as determined by the American Society for Testing Materials specifications D-910 or D-1655, or current specifications.
- Natural Gas Fuel: Any liquefied petroleum gas product, compressed natural gas product, or combination thereof used in a motor vehicle as defined in Section 206.01(23), Florida Statutes (F.S.). This term includes, but is not limited to, all forms of fuel commonly or commercially known or sold as natural gasoline, butane gas, propane gas, or any other form of liquefied petroleum gas, compressed natural gas, or liquefied natural gas. This term does not include natural gas or liquefied petroleum placed in a separate tank of a motor vehicle for cooking, heating, water heating, or electric generation.
Fuel tax is imposed on the ultimate consumer, but pre-collected for administrative convenience. The tax rates assessed on fuel are adjusted each year and are valid from January 1 to December 31. Fuel tax is due each month and includes the inspection fee, state tax, local option tax, and pollutants tax. The administration of fuel tax is found in Chapters 206 and 336, F.S., and in Rule Chapter 12B-5, Florida Administrative Code.