Mixed Beverage Bond – Mixed Liquor Tax Bond
Mixed Beverage Gross Receipts Tax Bond is a surety bond required by the State Comptroller’s office for all businesses holding a new Mixed Beverage liquor license bond issued by the Alcoholic Beverage Commission.
For example in Texas, TABC issues a new Mixed Beverage liquor license, the State Comptroller will send a letter to the business requesting that a “Continuous” Mixed Beverage Gross Receipts Tax Bond be posted to insure the State against non-payment of liquor taxes up to an amount of $7,500.
This type of a bond is generally considered a high risk bond because of the high rate of default by new businesses holding a Mixed Beverage liquor license and the fact that there are fewer surety companies investing in this field. Consequently, the cost of the bond can vary greatly depending on the business owner’s credit rating and typically ranges 5% to 15% of the face value of the bond.
The term “continuous” means that the bond is automatically renewed at the end of the first year for one additional year at no additional charge for a total term of two years, after which if a good tax payment history has been established by the business then it may become exempt from having to post another bond
We at All State Bonds offer the most affordable rates for mixed beverage surety bonds and all bonds are issued in house on the same day upon final approval.
Get Free Quote Online with No Obligation Mixed Beverage Tax Bond Quote
Apply Now for a Mixed Beverage Bond