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Money Transmitter Bonds - Sole Proprietor Taxes ok?


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Old 06-02-2008, 10:56 AM
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Default Sole Proprietor Taxes ok?

I am applying for a quote on a bond. I am a sole Proprietor and do not have Corporate Financials. Is it acceptable to use a tax return? Will the amounts of money I am transmitting make a difference for the premium of the bond?
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Old 06-03-2008, 01:51 PM
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Since you are a sole proprietor - your individual taxes should suffice - along with your personal financial statement. The amount of the money(s) tranferred will probably determine the amount of the bond the state is requiring you to obtain - which will certainly have an impact on your annual premium. The premiums are a percentage of the bond amount.
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