2005 Connecticut Code - Sec. 12-481. Bond for payment of tax.
Sec. 12-481. Bond for payment of tax. A motor carrier may give a bond, issued
by a surety company authorized to issue bonds in the state, in an amount satisfactory
to the Commissioner of Revenue Services which shall be not less than one thousand
dollars nor more than ten thousand dollars payable to the state of Connecticut and conditioned that the carrier will pay all taxes due and to become due under this chapter from
the date of the bond to the date when either the carrier or the bonding company notifies
the Commissioner of Revenue Services that the bond has been cancelled. So long as
the bond remains in force the Commissioner of Revenue Services may order refunds to
the motor carrier in the amounts appearing to be due on applications filed by the carrier
under section 12-480 without first auditing the records of the carrier. The surety shall
be liable for all omitted taxes assessed against the carrier, including the penalties and
interest on such taxes provided in section 12-488, even though the assessment is made
after cancellation of the bond, but only for such taxes due and payable while the bond
was in force and penalties and interest on such taxes.
History: 1965 act made amount of bond dependent upon commissioner's decision within limits of one thousand dollar minimum and ten thousand dollar maximum, previously bond was ten thousand dollars without exception; P.A. 77-614 substituted commissioner of revenue services for tax commissioner, effective January 1, 1979.
