78-A:8-b Surety Bonds. –
I. When the commissioner or her or his designee, in her or his discretion, deems it necessary to protect the revenues to be obtained under this chapter, she or he may require any operator required to collect the tax imposed by RSA 78-A:6 to file a bond issued by a surety company authorized by the New Hampshire insurance department to do business in this state, in an amount fixed by the commissioner or her or his designee, to secure the payment of any tax, interest or penalties due, or which may become due. Surety bonds may be required in situations such as, but not limited to, failure to file returns, failure to make payments with returns at the time required by law, tender by an operator of checks returned for insufficient funds, failure to pay interest and penalties assessed, operators who are itinerant, transient, or temporary, and any other situation which, in the discretion of the commissioner or her or his designee, renders the collection of the tax in jeopardy. If the commissioner or the commissioner's designee requires an operator to file a surety bond with the department, the operator shall file such bond within 10 days.
I-a. [Repealed.]
II. The surety on such bond shall be discharged from the liability accruing on the bond after the expiration of 60 days from the date on which the surety shall have lodged with the department a written request to be so discharged; but such request shall not discharge such surety from any liability already accrued or which shall accrue before the expiration of said 60-day period. The duration of surety bonds shall be for one year only, unless the requirement is canceled or revised by the commissioner or his designee before the expiration of the one-year period.
III. In lieu of a bond, cash in an amount prescribed by the commissioner or her or his designee may be deposited with the state treasurer who may, at any time, upon instructions from the commissioner or her or his designee and without notice to the depositor, apply the cash deposited to any tax or interest or penalties due. Cash deposited in lieu of a surety bond shall not earn interest.
IV. Failure to comply with the provisions of this section may result in the revocation, suspension, or denial of the operator's license, as provided in RSA 78-A:5, I.
Source. 1983, 439:3. 2009, 144:269. 2010, 58:1, eff. May 18, 2010; 187:1, eff. Aug. 20, 2010. 2012, 73:6, eff. May 23, 2012. 2019, 304:9, eff. Jan. 1, 2020.