142.884. Supplier's license--supplier's bond for financial responsibility required.

MISSOURI STATUTES AND CODES

142.884. Supplier's license--supplier's bond for financial responsibility required.

Supplier's license--supplier's bond for financial responsibilityrequired.

142.884. 1. Before becoming a position holder in any terminal inthis state or engaging in any terminal bulk transfers any person shallfirst obtain a supplier's license. A valid supplier's license allows theholder of the license to engage in all other activities without having toobtain any other license.

2. Any person who desires to precollect the tax imposed by thischapter as a supplier and who meets the definition of a permissive suppliermay obtain a permissive supplier's license. Application for or possessionof a permissive supplier's license shall not in itself subject theapplicant or licensee to the jurisdiction of this state for any otherpurpose than administration and enforcement of this chapter.

3. Suppliers and permissive suppliers shall be required to post abond of not less than three months' potential tax liability based on thenumber of gallons handled as estimated by the director, but in no eventshall the bond be less than one hundred thousand dollars nor more than twomillion dollars. An applicant may alternatively show proof of financialresponsibility acceptable to the director in the following amounts in lieuof posting of bond or in lieu of posting of the full amount of bond, whichshall constitute evidence of financial responsibility in the absence ofcircumstances indicating the director is otherwise at risk with respect tocollection of taxes from the applicant:

(1) Proof of five million dollars net worth shall constitute evidenceof financial responsibility in lieu of posting of bond;

(2) Proof of two million five hundred thousand dollars net worthshall constitute financial responsibility in lieu of posting one-half ofthe bond; and

(3) Proof of one million two hundred fifty thousand dollars net worthshall constitute financial responsibility in lieu of posting one-fourth ofthe bond. Net worth is calculated on a company, not individual state,basis.

4. For the purpose of determining the amount of precollected motorfuel tax due, every supplier shall file with the director, on formsprescribed and furnished by the director, a verified statement. Thedirector may require the reporting of any information reasonably necessaryto determine the amount of precollected motor fuel tax due.

5. The director may require every licensed supplier or permissivesupplier to separately disclose and identify, in a written statement to thedirector with the supplier or permissive supplier report, any removal andsale from the bulk transfer/terminal system in another state by thatsupplier to a person other than a licensed supplier, permissive supplier ordistributor of gallons of motor fuel, other than diesel fuel dyed inaccordance with this chapter, and which gallons are destined for thisstate, as shown by the terminal-issued shipping paper, and as to whichgallons the tax imposed by this chapter has not been collected or accruedby the supplier upon the removal.

6. The reports required by this section shall be filed on or beforethe second day of the current month with respect to information for thesecond preceding calendar month.