Minnesota Fuel or Petroleum Distributor Bond
What is a Minnesota Fuel or Petroleum Distributor Bond?
A Petroleum Surety Bond is a type of fuel tax bond required of licensed distributors by Minnesota law to ensure state petroleum taxes and fees are paid as required. The bond is written to the Minnesota Department of Revenue for licensed distributors who will be or are currently licensed in accordance with Minnesota Statutes, Chapter 296A. The surety bond ensures that the distributor honors the provisions of the Minnesota petroleum tax laws, pays all taxes, fees, fines, penalties, damages and costs as mandated by state laws.