Maryland - Promotor's Boxing and Wrestling Tax — required surety bond in Maryland. Apply online in minutes.
The Maryland Promotor's Boxing and Wrestling Tax bond is a financial guarantee required for promoters of combat sports events in the state. It guarantees that the promoter will accurately report ticket sales and pay all applicable event taxes to the state. If the promoter fails to remit the required taxes, the bond provides a mechanism for the state to recover the lost revenue.
Individuals or businesses acting as event promoters for boxing, sparring, kickboxing, or wrestling matches in Maryland typically need this bond. Anyone responsible for collecting ticket revenue and remitting the associated taxes must secure this coverage before hosting an event. Requirements can vary, so promoters should verify their specific needs with the issuing agency.
The state requires this bond to protect public funds and ensure strict compliance with Maryland's tax regulations. It acts as a safeguard against promoters who might underreport event attendance or fail to pay their required tax obligations. By mandating the bond, the state transfers the financial risk of unpaid taxes to a surety company.
Getting your bond is simple with Noah Insurance Agency. Click Apply Now to complete our secure online application in about five minutes, or call us at 814-718-0060 if you need assistance. Once your application is approved and processed, your bond will be delivered directly to you by email.
Premiums vary based on the applicant's credit history, business financials, and the required bond amount. Please apply online with Noah Insurance Agency to receive an exact quote based on your specific profile.
Required bond amounts vary depending on the specifics of the event, venue capacity, and state regulations at the time of your application. You must verify your specific required bond amount directly with the issuing agency before purchasing your bond.
Approval and processing times vary depending on the underwriting requirements for your specific bond amount. However, you can start the process by completing our 5-minute secure online application, and once issued, the bond is delivered by email.
If the state files a claim for unpaid event taxes, the surety company will investigate to ensure its validity. If the claim is valid, the surety will pay the state up to the full bond amount, and you will be legally responsible for reimbursing the surety company for all payouts and associated costs.
Send us a note or call 814-718-0060 — a licensed agent will confirm the bond amount and requirements for you.
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