Indiana GT-160

Secure your Indiana Gasoline Use Tax Permit with confidence by following this precise, step-by-step guide to completing the GT-160 Gasoline Use Tax Bond.

For businesses involved in the sale or distribution of gasoline in Indiana, regulatory compliance includes securing a financial guarantee known as the Indiana Gasoline Use Tax Bond (Form GT-160). This legal instrument serves as a contract between the business (the Principal), a surety company, and the Indiana Department of Revenue. Its primary purpose is to ensure that the business faithfully pays all gasoline use taxes, penalties, and interest required by Indiana Code 6-2.5-3.5. Essentially, it acts as a safety net for the state: if a business fails to remit the taxes it collects, the surety company covers the debt up to the bond amount. This bond is a mandatory requirement for obtaining a Gasoline Use Tax Permit, meaning you cannot legally engage in the business of collecting use tax on gasoline without it. By filing this form, you are legally binding your business—and its heirs or successors—to strict financial adherence to state tax laws, with the surety standing by to enforce that obligation.

How To File Form GT-160

This form is not filed like a standard tax return; it is a legal bond that requires execution by multiple parties.

  1. Preparation: The business (Principal) and the Surety company must complete the form together.
  2. Notarization: The document must be notarized to verify the identity of the signer (the Principal).
  3. Submission: Once signed, sealed, and notarized, the original bond must be filed with the Indiana Department of Revenue.
  4. Validity: This is a “continuing bond,” meaning it remains effective indefinitely from its start date until it is formally cancelled by either the Principal or the Surety.
How to Complete Indiana Form GT-160

How to Complete Indiana Form GT-160

Header Information

  • Bond Number: Enter the unique tracking number assigned to this bond by the surety company.

Parties To The Bond

This section identifies who is involved in the agreement.

  • Surety bond given by: Enter the full legal name of the Principal (the business applying for the permit).
  • of: Enter the Street Address of the Principal.
  • City-Town of: Enter the city or town where the Principal is located.
  • County of: Enter the county where the Principal is located.
  • and State of: Enter the state where the Principal is located.
  • and: Enter the full legal name of the Surety (the bonding company).
  • of: Enter the Street Address of the Surety.
  • City, State, ZIP Code: Enter the city, state, and zip code of the Surety’s office.
  • Sum of: Enter the bond amount in words (e.g., “Ten Thousand”) on the line preceding “Thousand Dollars.” This amount is determined by the Department of Revenue based on your estimated tax liability.

Obligations And Conditions

The text in this section outlines the legal responsibilities. You generally do not fill in blanks here until you reach the specific declaration of the Principal.

  • The above principal, [Name]: Re-enter the Name of the Principal who has applied for the Gasoline Use Tax Permit.
  • If the above principal, [Name]: Re-enter the Name of the Principal who is promising to pay the taxes.

Cancellation Policy

The form details that the bond can be cancelled with sixty (60) days’ written notice to the Department of Revenue. No fields need to be filled in this text block, but it is important to understand that the surety remains liable for any taxes incurred before the cancellation date.

Execution And Signatures

This section validates the bond and makes it legally binding.

  • Effective Date: Enter the day, month, and year (20__) the bond goes into effect.
  • In Witness Whereof: Enter the day, month, and year (20__) the bond is legally signed and sealed.

Signatures:

  • Principal: The Owner or President of the business must sign on the line labeled “Principal”.
  • Attest: If the Principal is a corporation, the Secretary of Corporation signs here.
  • Surety: The President (or attorney-in-fact) of the Surety company signs on the line labeled “Surety”.
  • By: The Indiana Resident Agent for the surety company signs on the indicated line.

Notary Acknowledgement

This section is for the Notary Public to complete.

  • State of / County of: Enter the location where the notarization is taking place.
  • Date: The Notary enters the day, month, and year the individual appeared before them.
  • Personally appeared: The Notary writes the name of the Principal who appeared to sign the bond.
  • Signature: The Notary Public signs their name.
  • Commission Expires: The Notary enters the date their commission expires.
  • Seal: The Notary must affix their official seal to the document.
Back to top button