Soda Tax Bond in New Mexico
An excise tax would be imposed on “sweetened beverages” that is defined in the bill and any syrup used to produce them. Distributors of these beverages would have to file tax returns by the 25th of each month after the month in which the beverages were sold. A bond must be posted by any persons subject to the tax. This would be conditioned on the filing of the reports and the payment of the tax and any applicable penalties and interest. The amount of the bond is determined by being equal to at least twice the amount of the taxpayer’s estimated monthly tax liability. The bond can be no less than $1,000, cash and other security would be accepted in lieu of the tax bond.
Latest posts by Victor J. Lance, President/Owner (see all)
- Surety Bond Now Required of Maryland Consumer Reporting Agencies - October 17, 2018
- How to Get a Money Transmitter License in Texas - October 15, 2018
- How to Get a California Dealer License - October 11, 2018