Minnesota - Non-Minnesota Contractor
Competitive Rates
| Bond Amount Required | Bond Term | Annual Premium |
| 8% of contract amount | 1 Year | Starting at $100 |
Non-Minnesota construction contractors performing work in Minnesota under contracts valued at more than $50,000 are generally subject to an 8% surety deposit withholding requirement and may provide a qualifying bond to obtain an exemption from that withholding. The Minnesota Department of Revenue requires the bond to guarantee the contractor's compliance with applicable Minnesota income, franchise, withholding, and sales and use tax obligations.
Cost of a Minnesota Non-Minnesota Contractor Bond
The annual premium for a Minnesota Non-Minnesota Contractor Bond starts at $100 with NNA Surety. The final cost varies based on the required bond amount and applicable underwriting. Get your bond from NNA Surety and use it today.
Why You Need a Non-Minnesota Contractor Bond
When a non-Minnesota construction contractor performs work in Minnesota under a contract exceeding $50,000, the person or business hiring the contractor generally must withhold 8% of payments as a surety deposit. A contractor may qualify for an exemption from this withholding by providing the Minnesota Department of Revenue with a qualifying surety bond equal to 8% of the contract amount.
The Minnesota bond guarantees that the contractor will comply with applicable state tax requirements. The bond remains in effect until the contractor satisfies the applicable tax liabilities.
The Minnesota surety bond involves three parties:
- Principal: Non-Minnesota construction contractor
- Obligee: Minnesota Department of Revenue
- Surety: Bonding company
If the contractor fails to satisfy tax obligations covered by the bond, the Minnesota Department of Revenue may make a claim against the bond. If the surety pays a valid claim, the contractor is responsible for reimbursing the surety for the amount paid.
How to Get a Minnesota Non-Minnesota Contractor Bond
Follow this simple bonding process:
- Complete this bond application with your business, contract, and personal information.
- Confirm your required bond amount, equal to 8% of the applicable contract amount, and receive your premium based on underwriting.
- Pay the applicable premium and submit the required bond and exemption documentation to the Minnesota Department of Revenue.
NNA Surety makes it quick and easy for non-Minnesota contractors to obtain the surety bond needed to meet applicable state requirements.
Apply for Your Minnesota Non-Minnesota Contractor Bond Today
Secure your Minnesota Non-Minnesota Contractor Bond and meet the applicable surety requirements for your construction project. Apply Now to get started. For more information, call 855-457-2196 to speak to our team of Minnesota surety bond experts.