NY Sales Tax Bond required for Sports Ticket Vendors
A bond would be required to be posted in connection with review processes for tax assessments made by local authorities on the sale of tickets for sporting events. Vendors selling the tickets would be responsible for the tax. If there are disputes against the tax or people seek a refund will be required to deposit an amount equal to the tax and any penalties due, along with a surety bond for the costs of the proceeding. The surety bond company must be licensed in that particular state as well.
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