If you are engaged in the operation of an employee leasing operation in Mississippi you are required under section 27-7-305 of the Mississippi Code to file a Mississippi Employee Leasing Withholding Tax Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Mississippi Employee Leasing Withholding Tax Bond holds you accountable for your business decisions.
By possessing a Mississippi Employee Leasing Withholding Tax Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.