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Florida Alcohol Tax Bond

Florida businesses involved with the alcohol industry in any capacity may need to secure a special type of surety bond to stay within the bounds of the law. This guide covers everything important to know about a Florida alcohol tax bond.

What is a Florida Alcoholic Beverage Tax Bond?

Officially known as the Florida Alcoholic Beverage and Tobacco Tax Bond, this surety bond holds someone accountable when they fail to pay state taxes related to alcohol or tobacco sales. This and all other types of surety bonds make the bond holder financially liable for any claims filed against the bond.

How does a Florida Alcoholic Beverage and Tobacco Tax Bond work?

Florida tax officials may file a claim against the bond seeking compensation for unpaid taxes. The surety agency that issues the bond will then investigate the claim. Provided that all the claim's details are true, the surety will automatically pay the claim in full. The bond holder must then pay the surety back the full amount of the claim plus interest and fees.

What is the purpose of an Alcohol Tax Bond in Florida?

Florida requires businesses to get one of these surety bonds to guarantee that the state can collect taxes owed. If the bond holder won't pay, the surety that backs the bond steps in to pay, and holds the delinquent taxpayer responsible. Bonds act as both a deterrent against people not paying their taxes and as a tool the state can use to recoup lost tax revenue. Many states use a similar bond requirement to regulate alcohol sales.

Why get an Alcoholic Beverage Tax Bond in Florida?

The state requires someone to prove they have one of the surety bonds before they will grant that person a license to operate their business legally. Renewing the license depends on having proof of an active bond in good standing. It's impossible to get a license or keep it valid without an active bond, and illegal to run an alcohol-related business without a license. Therefore, you need to obtain a surety bond and keep it active at all times or else your business becomes illegal and subject to fines and penalties.

Who needs a Florida Alcoholic Beverage and Tobacco Tax Bond?

Most businesses involved with the production, distribution, warehousing, or sale of alcohol or tobacco products will need some form of the alcoholic beverage tax bond in Florida. If you're unsure whether this bond requirement applies to your business, rely on the team at Viking Bond Service to figure out your exact bonding needs.

Who are the parties involved in an Alcoholic Beverage and Tobacco Tax Bond in Florida?

  • Principal - The bond holder, who is financially liable for all claims.
  • Obligee - The State of Florida, which has the right to file claims against the bond for unpaid taxes.
  • Surety - The agency that bonds the principal and settles claims with the obligee. The surety is only an intermediary though - the principal must pay the surety back for any claims it settles.

How to get a Florida Alcoholic Beverage Tax Bond?

You will need to apply for a bond by submitting an application, supplying a copy of the bond requirements, and agreeing to a credit check. The surety will quote you a price for the bond premium, and the bond activates once you pay. You will also need to renew the Florida alcohol tax bond annually.

How Much Does an Alcoholic Beverage and Tobacco Tax Bond Cost in Florida?

The cost varies widely depending on the type of surety bond you need and your credit. Bond premiums cost a small percentage of the total bond value, less for people with good credit, and more for people with a low credit score or blemish on their financial record. Viking Bond Service offers a special program to help bond seekers with bad credit.

Why you should get your Florida AlcoholTax Bond from Viking Bond Service

As a nationwide surety agency working with business owners across the country, Viking Bond Service knows how to make bonding easy. Rely on us to streamline the application process, offer you a competitive premium price, and serve as your committed bonding partner for as long as you're in business. Your surety bond needs are covered with Viking Bond Service.

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