The New York Distributor-Alcoholic Beverages Bond is required by the New York Department of Taxation and Finance. The bond states that the bondholder shall faithfully discharge all of his or her duties under Article 18. Including the regulations of the Department of Taxation and Finance as a Distributor of Alcoholic Beverages.
Under the Alcoholic Beverages Tax Law, a surety bond may be required to secure payment. The bond can be imposed at any time to ensure the timely collection of tax.
Before you can start doing business, you will need to file an Application for Registration as a Distributor of Alcoholic Beverages. In addition, you will need to file a Financial Statement of Distributors of Alcoholic Beverages.
A bond may also be required at any time by the Department of Taxation and Finance. Note that your registration as a distributor may be canceled if you don’t file the required surety bond.
The cost for the bond is also referred to as the bond premium. The premium is the one cost that the surety company sets. All other fees that are related to the bond are set by the obligee. In this case, it’s the State of New York. The bond premium is only a small percentage of the bond amount.
Surety1 can get you a free, no obligation quote FAST. Complete our easy to navigate, free online application and a friendly surety agent will contact you with a no-obligation quote. When you are ready to proceed, we will collect the payment on the premium and have you sign some paperwork. Then the Distributor-Alcoholic Beverages bond will be mailed out to you. You have the option of USPS Priority Mail or Overnight shipping, for an additional fee.
Surety1 is one of the most trusted surety companies in the country. We started in 2003 and we continue to cater to clients from all 50 states while maintaining an A+ rating from the Better Business Bureau.