What is a Florida Citrus Excise Tax Bond?
A Florida Citrus Excise Tax Surety Bond is meant to guarantee the payment of any excise tax required by the Department of Citrus. The Florida Citrus Excise Tax Bond is required by rule 20-9.005 which states that each handler of citrus products must provide a surety bond, cash bond, or certificate of deposit to the Department of Citrus in Bartow, Florida.
How do I determine my Florida Citrus Excise Tax Surety Bond amount?
The surety bond amount for the Florida Citrus Excise Tax Surety Bond is determined using the following calculation:
- Multiply the number of boxes utilized in the prior season or estimated utilized boxes for the current season (whichever is greater) by the total average citrus excise tax rate from the prior season. This determines the total estimated citrus excise tax
- Divide the total estimated citrus excise tax by the number of weeks for which tax returns were required to be filed during the previous season. This determines the weekly amount of citrus excise tax.
- Multiply the weekly amount of citrus excise tax by two (2) to determine the total amount of the Florida Citrus Excise Tax Surety Bond needed.
How much is a Florida Citrus Excise Tax Bond?
The Florida Citrus Excise Tax Bond cost is largely determined by the bond amount needed. In most cases, the bond cost will range from 1-3% of the bond amount needed. However, for applicants with bad credit, the bond cost can be much higher and ranges from 4-15% of the bond amount needed. The best way to determine your surety bond cost is by clicking on the link below and completing our online application. Additionally, you may also need a Florida Citrus Dealer Bond. DBL Surety can place both surety bonds for you regardless of credit and, in most cases, the same day as requested.
How do I apply for a Florida Citrus Excise Tax Bond?
- Complete our online Florida Citrus Excise Tax Bond application, or
- Download and complete our printable Florida Citrus Excise Tax Bond application, and
- Receive your surety bond quote in minutes!