If a taxpayer's business is required to have a bond on file, the Department now allows consolidated bonds. This means that if the business has more than one location, it may choose to provide one bond in the required amount to cover all bond requirements rather than having separate bonds for each individual location.
If the business currently has multiple bonds on file with the Department and have received a notice that the bond should be increased or decreased, it may choose which existing bond it would like to increase or decrease. The business may also choose to cancel the bonds on file and replace them with one bond for the total required amount.
Please contact the Miscellaneous Tax Unit at (615) 253-0680 with any questions about bonds.