Section .0100 – Bond Requirements

Link to law: http://reports.oah.state.nc.us/ncac/title 17 - revenue/chapter 12 - motor fuel/subchapter d/subchapter d rules.html
Published: 2015

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SUBCHAPTER 12D – KEROSENE INSPECTION TAX

 

SECTION .0100 – BOND REQUIREMENTS

 

17 NCAC 12D .0101          RESERVED

17 NCAC 12d .0102          aMOUNT OF bOND

REQUIRED

The amount of bond required of a kerosene distributor or a

kerosene supplier licensed under G.S. 119-16.2 is based on the kerosene

distributor's or supplier's average monthly taxable sales and use of kerosene

in North Carolina, as follows:

From                                      1              to                                

60,000 gallons per month                             $      500

From                             60,001            to                              

100,000 gallons per month                                  1,000

From                           100,001            to                              

300,000 gallons per month                                  2,500

From                           300,001            to                              

600,000 gallons per month                                  5,000

From                           600,001            to                              

900,000 gallons per month                                  7,500

From                           900,001            to                            1,200,000

gallons per month                               10,000

From                        1,200,001            to                            1,500,000

gallons per month                               12,500

From                        1,500,001            to                            1,800,000

gallons per month                               15,000

From                        1,800,001            to                            2,000,000

gallons per month                               17,500

From                        2,000,001            and

over                                                gallons per month                                 

20,000

 

History Note:        Authority G.S. 105-262; 119-15.1;

119-15.3;

Eff. January 1, 1983;

Recodified from 17 NCAC 09J .0202 effective November 1,

2002;

Amended Eff.

August 1, 2003.

 

17 NCAC 12d .0103          ACCEPTANCE OF BONDS AND LETTERS OF

CREDIT

The Motor Fuels Tax Division accepts a surety bond, a bond

secured by collateral, or an irrevocable letter of credit from a kerosene

distributor or supplier in the same circumstances under which it accepts one of

these from a distributor licensed under G.S. 105, Article 36C.

 

History Note:        Authority G.S. 105-262; 119-15.1;

Eff. January 1, 1983;

Amended Eff. August 1, 1998; January 1, 1992; October 1,

1992; March 1, 1987;

Recodified from 17 NCAC 09J .0203 effective November 1,

2002;

Amended Eff. August 1, 2003.