Combative Sports for Gross Receipts Tax Bond
Those in the business of promoting combative sports competitions are required by the Texas Department of Licensing and Regulation to hold a $15,000 bond to cover gross receipts tax. They are also required to hold $15,000 surety bonds prior to the competition date. These bonds are subject to underwriting based on the personal credit history of the applicant. These bonds are required in order to ensure payment of any gross receipts taxes due. If payment is not made by the promoter, the Department can place a claim on the surety bond.
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