W. Va. Code R. § 110-12B-6

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 110-12B-6 - Bond of Transient Vendors

6.1. When Bond Posted. -- At the time of filing an application for a transient vendor business registration certificate, the transient vendor shall post with the Tax Commissioner a bond in the amount of five hundred ($500.00) dollars. Such bond may be in the form of cash bond, a corporate surety bond, an irrevocable letter of credit, or a negotiable instrument having fair market value of five hundred ($500.00) dollars. The bond shall be subject to approval by the Tax Commissioner.

6.2. Reduction or Elimination of Bond. -- The Tax Commissioner may reduce or eliminate entirely the required bond if he fins that over a period of at least twelve (12) months the transient vendor has demonstrated compliance with W. Va. Code '11-12-1 et seq. In making this determination, the Tax Commissioner shall consider, among other factors.

6.2.1. The timely filing and remittance of all taxes imposed by Chapter eleven (11) of the Code of West Virginia of 1931, as amended.

6.2.2. The maintenance of appropriate records; and

6.2.3. The appropriate displaying of license.

W. Va. Code R. § 110-12B-6