Fuel Tax Bond Requirements in Louisiana

Written by JoAnn Smith on August 11th, 2014. Posted in Commercial Bonds, License and Permit Bonds, Lousiana, Surety Bond Blog, Tax and Fees Bonds

     fuel tax bond requirements
Do you know your state fuel tax bond requirements?
In Louisiana any fuel supplier who also acts as a terminal operator, permissive supplier, distributor, importer, exporter, blender, transporter or anyone who is a fuel supplier for aviation fuel must be licensed and follow fuel tax bond requirements.
 
With the broad range of uses for various types of fuels, it is important for anyone engaged in the act of buying, selling, delivering or even simply blending fuel to have a license with the state of Louisiana. As part of that licensing, a fuel tax bond is required.

Denial of Fuel Supplier Licenses

Anyone who has a history of the following can be denied their fuel supplier license and the fuel tax bond requirements that accompany that license. These include:
  • If the license has been cancelled prior to the current license registration
  • If another state has revoked a similar license
  • If the federal registry license, which is also required, has been revoked
  • If the person obtaining the license has been convicted of fraud or any kind of misrepresentation
  • If the applicant is in arrears for their state taxes
  • If for any reason it has been determined that the party applying for the license is not the interested party that will be using the license
  • If the applicant, their agent, employees or officers have ever been convicted of motor fuel tax evasion.

Keeping Your Fuel Tax License Current

One of the things you will need to do to keep your fuel tax license current is make sure that your fuel tax bond requirements have been met and are up to date as well. That may mean renewing them or increasing the amount of the fuel tax bond if the state changes the requirements. Keep up to date on all your surety bond needs, including the fuel tax bond requirements for your state, with BuySurety. We have been providing a wide variety of surety bonds for many different kinds of industries for over two decades across the nation. Get bonded today with BuySurety and make sure all your fuel tax bond requirements or needs for any other types of bonds are up to date.

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Performance Bond Requirements Alert Whistleblower in Louisiana

Written by JoAnn Smith on July 30th, 2014. Posted in Bond Types, Contract Bonds, Lousiana, Performance Bonds, States, Surety Bond Blog

     performance bond requirements      
performance bond requirements tip off whistleblower
If a company cannot fulfill the performance bond requirements for a project, should they even be considered for it let alone rewarded with the contract? In Louisiana it appears that they might be, if they have close connections with the person doing the contract awarding.
 
When a whistleblower sent an email to federal officials asking them to look into what seemed “dangerously close” to fraud, the Attorney General’s Office followed up. In time the contract was cancelled but that doesn’t mean the Jindal administration is in the clear yet.

A Conflict of Interest

A closer look is being called for regarding the possibility of fraud connected to this recent contract awarding. The contract was for state Medicaid claims processing. The $200 million contract had been awarded to a company that was the former employer of Louisiana’s chief of their state health agency. This is the same agency that would make the decision on the contract, causing a clear conflict according to many familiar with the case. Another red flag went up for those aware of this contract when it came to the performance bond requirements.

Performance Bond Requirements Not Met

As part of the bid for this very lucrative contract, the technology firm CSNI would be required to among other things post a $6 million performance bond to ensure the proper performance of the claims processing of Medicaid. The performance bond requirement is part of any bid that involves the processing of federally mandated programs such as Medicaid. The truth is CSNI could not qualify for that performance bond, according to the email sent by former CNSI employee Steve Smith. Smith was an employee of CSNI at the time of the email. That inability to qualify for the performance bond along with the connection with the secretary of the state Department of Health and Hospitals Bruce Greenstein was cause enough to call for an investigation.

Investigation Leads to Resignation

An investigation began but before it had even gotten to the starting gate the contract was awarded to the company in question. This provoked more questions of suitability and how the company could be awarded the contract if it didn’t fulfill the performance bond requirements for a start. All of these questions led to a federal Grand Jury probe about a year after the contract had been first awarded. No sooner did that happen then the contract was cancelled by the State Administrations Office and Bruce Greenstein resigned. Although the federal probe never led to charges, a new state grand jury investigation is now underway.

The Importance of Performance Bonds

Of course, all of this simply underlines the importance of making sure that your company can fulfill a performance bond requirement when it is part of a project or contract bid. It is obvious that if CNSI had simply looked into performance bond requirements before they submitted their bid, and chosen to not bid for a contract they couldn’t legally have accepted, this would have all been avoided. If you are looking at submitting a bid for a contract or project and a performance bond or any other kind of surety bond is part of the bidding process, you can get qualified quickly and easily with BuySurety.
 
We have been helping large and small companies find the best way to get qualified for any kind of surety bond from an administrator bond for estate probate to a yacht broker bond to cover yacht sales liabilities since 1998 and we can help you too. Call our customer service reps or visit our website today to find out just how fast and easy you can qualify for that important surety bond for your next contract or project bid.

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Commercial Surety Bond Legislature for Debt Management Services

Written by JoAnn Smith on November 26th, 2013. Posted in Commercial Bonds, Finance Bonds, Hawaii, Latest News, Legislation, License and Permit Bonds, Lousiana, Massachusetts, New York, Pennsylvania, Surety Bond Blog, Washington

Debt Management Services
Recent surety bond legislature for debt management service companies has been sweeping through several states. With the increased regulation of all banking services, it isn’t surprising that many states are looking more closely at this sub-set of the financial industry with a bit more scrutiny. Massachusetts and Pennsylvania have both passed new regulations regarding these services and a few other states have had similar bills defeated that will probably circle back around soon for another attempt at further regulation. For a closer look at all the changes regarding these industries, here are the details:

Massachusetts Surety Bond Changes

After sitting in the House for several months, House Bill 875 has finally been sent to the Senate Ways and Means committee as H3569. It looks likely to pass and will require all debt management service companies to post a surety bond as part of their licensing requirements. The amount of the bond will be determined at the time by the Commissioner of Banks.

Pennsylvania Debt Settlement Service Providers Bonding

In a bill that will see the posted bond run to the Commonwealth for its benefits, Pennsylvania has decided on a $25,000 credit services bond requirement. This will be part of the new licensing requirements for debt settlement service providers and will also oblige that the bond run for the length of the license. An additional $25,000 penal bond will also be required as part of the licensing procedure.

Growing Movement toward Surety Bonds

Although they were defeated in legislature, there were bills for the requirement of licensing and the posting of surety bonds for all debt management service providers in Hawaii, Louisiana, New York and Washington. This marks a definite trend towards the institution of surety bonds as a licensing requirement in this industry in the coming years.

Find All Your Surety Bonds Here

Many businesses that serve non-traditionally in the financial sector may find they will suddenly be required to post a surety bond in the coming years. If your business is considering the move to posting a surety bond as part of their licensing requirements, don’t get caught without them. We can supply any kind of surety bond for any industry in all fifty states. Contact our offices or visit our BuySurety website and find out just how easy it is to get the surety bond your industry requires, regardless of your credit rating or years in the industry.

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Car Dealer Bond Requirements for Louisiana, Mississippi and Alabama

Written by JoAnn Smith on October 26th, 2013. Posted in Alabama, License and Permit Bonds, Lousiana, Mississippi, Motor Vehicle Bonds, Surety Bond Blog

     car dealer bond
car dealer bond requirements are changing
The Deep South has a long love affair with vehicles, road trips through sun-splashed countryside and white jacketed car dealers offering you great cars at rock bottom prices. Whether you are offering recreational vehicles or practical cars and trucks, a car dealer bond is going to be an important part of your trade. Knowing the requirements for DMV bonds when selling in Louisiana, Mississippi and Alabama will let your good old boys make those deals all the more easily.

Louisiana Car Dealer Bonds

Located between the giant plains of Texas and the old south plantations of Mississippi, Louisiana has plenty of great opportunities for anyone looking to establish a car dealership. The requirements for a car dealer bond as part of your licensing are very straight-forward. If you wish to open a new or used car dealership in Louisiana you will also need to post a $20,000 car dealer bond. The bonds are good for that year and will expire on December 31st, when they will need to be renewed. The Baton Rouge DMV offices handle the car dealer bonds for all of the state.

Mississippi Car Dealer Bond Requirements

Anyone who has driven down a country road in Mississippi in spring knows why it is called The Magnolia State. The sweet smell of magnolia blossoms through the open window of your car can banish any gloom. In Mississippi you will need to post surety bonds for both the dealership and each agent. If you are planning to sell new vehicles you will need to post an auto dealer bond for $25,000. In addition, each agent or salesperson you employ at the dealership will need to have a $15,000 car salesperson bond as well. Only dealerships that sell new cars need to have individual surety bonds for their salespeople, used car lots can have their salespeople bonded under the dealer bond.

Alabama Car Dealership Surety Bonds

The Old South still lives in Alabama, where you will continue to see the old Confederate flag fly at many businesses. Small businesses abound, which may be why Alabama actually requires licensing and surety bonds for anyone who sells more than just five vehicles. The car dealer bonds that are required for this license only run until September 30th of any given year, when they expire and must be renewed. The licensing and car bond requirements are split along several different categories:
  • New Motor Vehicle Dealers – $25,000 car dealer bond
  • Used Motor Vehicle Dealers* – $10,000 car dealer bond
  • Automotive Parts Recyclers and Auto Dismantlers – $10,000 car dealer bond
*Used car dealers in Alabama include anyone who reconditions, rebuilds or sells wholesale.

Offering a Good Deal on Car Dealership Bonds

No matter where you live in the south, or any other part of the U.S., it is simply a part of business when you open a car dealership that you will need to have car dealer bonds too. Although the requirements vary from state to state, BuySurety can take care of all your auto dealer bond needs regardless of your situation, location or credit standing.

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Performance Bond for New Orleans Jefferson Parish District Station

Written by JoAnn Smith on January 31st, 2013. Posted in Latest News, Lousiana, Performance Bonds

     performanc bonds complete district building
Jefferson County 3rd District Headquarters
When the Jefferson Parish Sherriff cut the ribbon on the new District Station, the innovative 5200 square foot building’s construction was accomplished because the city made sure that performance bonds were in place from the beginning. They have reason to feel good about this, since these surety bonds ensured the building was completed when the original contractors, Catco General Contractors, went bankrupt partway through the project. The performance bonds came through, giving the district a new state-of-the-art center that is as hurricane-proof as possible with on-site facilities to allow it to be a central command in the event of any local emergency. In addition to being the headquarters for the local patrol, the Acadian-styled building that more resembles a lakeside cottage than a police center will have a children’s playground, hiking trails and picnic areas on the 610 acre site.

Performance Bonds Come Through

Sheriff Normand admits that the whole project was pretty touch-and-go for a brief while when the main contractor became six months late on the project and then went out of business. The performance bonds taken out at the beginning of the project allowed the building to be completed through an almost cooperative venture with Parrish County officials. The neighborhood, called Parc Des Familles is a relatively recent development with plenty of young families who will welcome the sense of safety that the building brings to the community. In addition, the ever present threat of flood or hurricane makes the ability of the new building to withstand severe weather more important than ever. With its backup generator power and water filtration system the building will be the center for any community support during these types of events. The sheriff and local deputies are looking forward to moving from the old school house that has stood as a temporary station during the construction of this district center and into the new building. Commander Dyess and his 75 deputies will be moving into the new 3rd District Headquarters and “feel privileged to be able to work out of such a state-of-the-art facility”.

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