The Federal Distilled Spirits Winery surety bond is required by the TTB. The bond is in force to help ensure that your company follows all laws and regulations including paying any penalties and taxes due to occupational and rectification taxes.
The surety bond amount can be split into two different categories:
“Wine Operations” – covers tax liability of wine and wine spirits on hand and in transit to premises.
“Tax Deferral” – covers tax which has been determined, but not yet paid, on wine removed from the bonded premises for consumption or sale.
The TTB will inform you what the bond amounts of each category should be.
If the TTB feels you have wronged them in a financial matter they can file a claim with your surety company. The claim will be researched and if the surety company pays out, you must pay them back.
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