Form FT462 Fuels Tax Bond - Virginia

What Is Form FT462?

This is a legal form that was released by the Virginia Department of Motor Vehicles - a government authority operating within Virginia. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form FT462?A: Form FT462 is a document used for obtaining a fuels tax bond in Virginia.

Q: What is a fuels tax bond?A: A fuels tax bond is a type of surety bond that guarantees the payment of taxes on fuels.

Q: Why do I need a fuels tax bond in Virginia?A: If you operate a business that sells or transports motor fuels in Virginia, you are required to obtain a fuels tax bond as a form of financial security.

Q: How do I fill out Form FT462?A: Form FT462 requires you to provide information about your business, such as your business name, address, and contact information. You will also need to provide information about the surety company providing the bond.

Q: Are there any fees associated with obtaining a fuels tax bond?A: Yes, there may be fees associated with obtaining a fuels tax bond. The exact fees will depend on the surety company you choose.

Q: What happens after I submit Form FT462?A: After you submit Form FT462, the Virginia Department of Motor Vehicles will review your application and notify you of its approval. Once approved, you will receive your fuels tax bond.

Q: How long does it take to get approved for a fuels tax bond?A: The approval process for a fuels tax bond can vary, but it typically takes a few business days.

Q: How long is a fuels tax bond valid for?A: A fuels tax bond is typically valid for one year.

Q: What happens if I don't obtain a fuels tax bond?A: Failure to obtain a fuels tax bond in Virginia can result in penalties and fines, as well as the suspension or revocation of your business license.