35 Miss. Code. R. 4-10-01-606
Current through December 10, 2024
When a contractor defaults on the execution of his contract and the bonding company acting as surety for the performance of the contract assumes completion of the contract, the bonding company becomes liable for the payment of the sales, use, income, withholding, and motor fuel tax accruing as a result of its activities. The contractor's MPC number becomes void at the time of default. The surety company shall make an application to the Commissioner for an MPC covering the remaining/unfinished portion of the contract. The application must include proper bonding and/or prepayment of tax.
35 Miss. Code. R. 4-10-01-606