The Texas Mixed Beverage Sales Tax Bond is required by the Texas Comptroller of Public Accounts.
Texas law requires mixed beverage permittees to post two separate bonds as security for the payment of taxes:
- one bond for the 6.7 percent mixed beverage gross receipts tax; and
- one bond for the 8.25 percent mixed beverage sales tax.
Effective 1/1/2014, the Comptroller requires not only the Mixed Beverage Gross Receipts Surety Bond but also the Mixed Beverage Sales Tax Surety Bond for all NEW businesses only. The former $7,500 bond requirement has been split in half and distributed between both bonds, leaving them with a $3750 each bond amount.
Mixed Beverage Gross Receipts Tax Bond will be in an amount of $3,750 to $100,000 and the Mixed Beverage Sales Tax Bond will be in an amount of $3,750 to $100,000. For both it will either be an amount within the given ranges or four times the permittee’s monthly average tax liability, whichever is greater.
The Texas Mixed Beverage Sales Tax Bond is different from the Texas Conduct Surety Bond, but is generally required in addition to the bonds. Conduct surety bonds are required by all retailers who do not hold a Food and Beverage Certificate and the bond amount is determined by the distance to a public school. If the location is over 1,000 feet from a public school, the bond amount will be $5,000. If the location is less than 1,000 feet from a public school, the bond amount will be $10,000. Additionally, conduct surety bonds are required by the Texas Alcoholic Beverages Commission, while the Texas Mixed Beverage Sales Tax Bond is required by the Comptroller of Public Accounts.
The bond states that the bond holder shall faithfully account for and pay to the State of Texas all permit fees, service fees, taxes, and penalties levied by the Texas Alcoholic Beverage Code. It should be written for and in favor of the State of Texas and the people of the State of Texas to protect them from financial harm from you company.