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What is an Alcohol Tax Bond?
An alcohol tax bond is a sales tax bond that is required by state or local governments when a business is selling, producing, or warehousing any type of liquor. The alcohol tax bond is an agreement between the business owner, the Surety, and the government agency which is requiring the bond.
The purpose of obtaining an alcohol tax bond is to ensure that the principal of the bond will pay all appropriate taxes on the alcohol when they are due. If the principal fails to pay appropriate fees, the government entity which required the bond, can make a claim against the alcohol tax bond to recover any unpaid taxes or fees.
Alcohol Tax Bonds are also known as:
- Wine bonds
- Liquor license bonds
- Liquor bonds
- Brewer’s bond
- ABC bonds
- Alcohol beverage control bonds
- Beer Bonds
- On-premise beer bonds
- Malt beverage license bonds
FAQs About Alcohol Tax Bonds
What is the Process for getting an Alcohol Tax Bond?The process is simple when you choose The Surety Place as your neighborhood bond department. We provide you with the application, a quote, and ensure that any other pertinent information is taken care of on your behalf. We know that every local and state government have different requirements for business owners selling alcohol and we ensure that our team knows the laws specific to your location.
How does my personal credit affect me getting this bond?Personal credit always plays a role in obtaining any bond, but The Surety Place has specialty programs to help every business owner get the bond they need to continue running their company. We have hard to place bond programs for anyone who has struggled with bad credit in the past. Your premium may be higher, but we are known for saying yes when other bond companies say no!
What if a claim is made against my bond?A full investigation is always done when a claim is filed against any bond, and that is no different with alcohol tax bonds. Whether the claim is justified or turns out to be a false claim, the surety makes sure that you are treated fairly throughout the investigation process. The most important thing to do when a claim is made is to get the issue resolved as quickly as possible to eliminate as much pain to the business as possible.
Who is the obligee on the alcohol tax bond?The obligee for the alcohol tax bond will vary based on state as well as the specific verbiage of the bond itself. For example in Texas the alcohol tax bond is known as "Texas Continuous Bond-Mixed Beverage Gross Receipts Tax and the obligee is the Texas Comptroller of Public Accounts, and the amount of the bond is set by the obligee. Each state will have its own version of this example, but Surety Place can help you with all of this.
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A National Surety With a Local Feel
The Surety Place, previously known as Surety Placement Services, was founded in 2002 with a goal to bring innovation and a high level of service the industry had not yet seen. We can write any bond in any of the 50 states; we may have big capabilities, but we make sure that we always treat you like a local in our community. We know that when trying to obtain an Alcohol tax bond, the process can be daunting since every local and state government has different regulations for business owners selling, producing, or storing alcohol. We make the process easy for you. As an industry leader from the start, we are a people first surety bond partner that you can trust, offering access to agents and businesses to achieve the right solution at the right time.
Your Bond Needs Are Always Heard
We establish a relationship with you in order to truly understand your business focus whether large or small, complicated or difficult. As one of the only true specialists within the industry we supply access, partnerships and specialty programs with numerous “A” rated sureties across the nation. We are here to help you service all your bonding needs with no appointments or contracts necessary. Alcohol tax bonds are crucial for certain business owners, which is why we ask that you trust in us to do the hard work for you, get you the bonds required of you to run your business successfully.
Because of our industry knowledge and expertise coupled with our ever increasing specialty programs, we have the unique ability to write your bonds when no one else can, and because of our relationship with you we will stand behind you in support to achieve your agency or business objectives.
Over 40 Years of Combined Surety Experience
Our dedicated account managers are highly trained underwriters who provide our agents and clients a tailored bonding solution for their individual or corporate needs. In today’s marketplace, surety access can be limited; but with Surety Place as your partner, you’ll find the white-glove service you have been looking for.
No matter how complicated your bond may be, your personal credit, or the size bond you need, Surety Place is built to find an answer. Poor credit, financial hardship, fast growth, or just getting your company off the ground, we the have options you need.
We understand business. We also understand how difficult it can be when something that seems like such a small piece of the puzzle gets in the way of closing the deal or moving forward. We take that pressure off your mind so YOU can get back to work.
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At The Surety Place, we pride ourselves in our customer service! If you have any questions regarding your Alcohol tax bond placement, give us a call.