What is a Texas combative sports promoter bond?
The Texas Department of Licensing and Regulation requires individuals who promote combative sport competitions to post $15,000 surety bonds prior to the competition date. These individuals must also post an additional $15,000 bond for gross receipts tax.
By filing surety bonds, promoters promise to pay all taxes, fines and fees owed to the state as well as to uphold all license regulations and laws.
How much does a boxing and MMA promoter bond cost in Texas?
The $15,000 sports promoter bond costs a flat rate of $150 for a 1-year term. Or, you can save by selecting a multi-year term. Click Buy Now below to checkout in minutes.
The $15,000 gross receipts tax bond starts at $300 and requires underwriting review. Apply to get your free quote within one business day.
Why do I need this bond?
Combative sports promoter bonds and combative sports bonds for gross receipts tax in Texas protect any person injured or aggrieved by a principal’s (promoter’s) unlawful business practices up to the full penal sum of the bond. Specifically, the bond ensures that principals conduct business and pay all taxes in accordance with Chapter 2052 of the Texas Occupations Code.
What’s the fine print?
Texas combative sports promoter and gross receipts tax bonds remain in full force and effect until canceled by the surety. The surety can cancel the bond at any time by giving written notice of cancellation to the Texas Department of Licensing at least 30 days prior to the effective cancellation date.
How to become a combative sports promoter in Texas
Before a promoter can legally partake in a combative sporting event in Texas, they must be licensed. Promoter applications must be sent to the Department of Licensing and Regulations. Each application must be accompanied by:
- licensing fees
- $15,000 surety bond
- $15,000 surety bond for the payment of taxes
All licenses are valid for one year.
More Resources
- Texas Department of Licensing and Regulation Combative Sports Forms
- Texas Department of Licensing and Regulation Combative Sports Promoter License Application and Bond form
- Texas Department of Licensing and Regulation Combative Sports Promoter Bond form
- Texas Department of Licensing and Regulation Combative Sports Bond for Gross Receipts Tax form
- Occupations Code Title 13. Sports, Amusements, and Entertainment Subtitle B. Sports Chapter 2052. Combative Sports Subchapter A. General Provisions
- Texas Department of Licensing and Regulation Combative Sports Frequently Asked Questions
