1999 Minnesota Code
Chapters 296 - 299 Excise and Sales Taxes
Chapter 297A General Sales and Use Taxes
Section 297A.28 Security.

297A.28 Security.

On finding it necessary to insure compliance with sections 297A.01 to 297A.44 the commissioner may require a retailer subject thereto to deposit with the commissioner security in such form and in such amount as the commissioner may determine but not more than twice the estimated average liability for the period for which the returns are required to be filed, or $10,000, whichever amount is the lesser. The amount of security may be increased or decreased by the commissioner, subject to the limitations herein provided. The commissioner may sell property deposited as security at public auction if necessary in order to recover any tax or any amount required to be collected, including interest and penalties, if any. Notice of the sale must be served upon the person who deposited the security personally, or by mail in the manner hereinafter prescribed for the service of a notice of a deficiency. After any sale any surplus above the amount due not required as security under this section shall be returned to the person who deposited the security. In lieu of security, the commissioner may require a retailer to file a bond, issued by a surety company authorized to transact business in this state and approved by the commissioner of commerce as to solvency and responsibility.

HIST: Ex1967 c 32 art 13 s 28; 1983 c 289 s 114 subd 1; 1983 c 327 s 10; 1984 c 655 art 1 s 92; 1986 c 444