2005 Idaho Code - 63-3625 — SECURITY FOR TAX

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 36
                                  SALES TAX
    63-3625.  SECURITY FOR TAX. The state tax commission, whenever it deems it
necessary to insure compliance with this act, may require any person subject
to this act to place with it such security as it may determine. The amount of
the necessary security shall be fixed by the state tax commission but, except
as provided hereafter, shall not be greater than three (3) times the estimated
average monthly amount payable by such persons pursuant to this act or ten
thousand dollars ($10,000), whichever amount is the lesser. In the case of
persons habitually delinquent in their obligations under this act, the amount
of the security shall not be greater than five (5) times the estimated average
monthly amount payable by such persons pursuant to this act or ten thousand
dollars ($10,000), whichever is the lesser. The amount of the security may be
increased or decreased by the state tax commission at any time, subject to the
limitations above set forth.
    The state tax commission may sell the security at public auction or, in
the case of security in the form of bearer bonds issued by the United States
or the state of Idaho which have a prevailing market price, at a private sale
at a price not lower than the prevailing market price if it becomes necessary
to make such sale in order to recover any tax, interest or penalties due on
any amount required to be collected. Notice of the sale must be given to the
person who deposited the security at least ten (10) days before the sale; such
notice may be given personally or by mail addressed to the person at the
address furnished to the state tax commission and as it appears in the records
of the state tax commission. Upon such sale, any surplus above the amounts due
shall be returned to the person who placed the security.