HB 441 will require the principal to obtain a surety bond in connection with an expedited refund on a sale and use tax refund claim. Should the refund have to be paid in error this bond will secure the repayment of the refund and any additional tax, interest, penalties fees or other costs incurred. This new law became effective upon enactment and if such an assessment comes arise it must be made within three years from the date that the expedited refund was made.
Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.
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Lance Surety Bond Associates, Inc. is a surety bond agency based out of southeastern Pennsylvania that is able to write all surety bond types in all 50 states. We are dedicated to servicing all of our customers' surety bonding needs throughout the country and guarantee competitive rates, timely responses, and unparalleled customer service.