Alcohol wholesale distributor or importer bond cost
The required amount of resident beer/wine wholesale distributor or importer bonds varies between $5,000 and $50,000 and is based on the applicant’s anticipated tax liability for the year.
Surety Bonds offers North Carolina wholesale distributor or importer bonds for different costs depending on a review of each applicant’s credit report. Although this bond is subject to underwriting, our experts work hard to get all applicants the bonds they need for the lowest rates possible.
Why this bond
By posting this surety bond, the wholesale distributor or importer guarantees that he or she will pay all taxes and fees imposed by state or local laws. If any distributors or importers commit fraud or other damaging acts, such as falsifying records of sale or failing to pay requisite taxes on prior sales, this bond ensures that consumers and the state will be protected from any financial losses. The surety will initially compensate harmed parties up to the full bond amount, but the principal must reimburse the surety for all damages paid out.
Alcohol wholesale distributor or importer bond details
North Carolina wholesale distributor or importer surety bonds will remain continuous unless otherwise canceled by the surety. If the surety chooses to terminate the bond, 30 days’ notice prior to cancellation must be given to the North Carolina Secretary of Revenue.
The secretary will periodically review the sufficiency of the bonds posted by wholesalers and importers and will increase the required amount of the bond when the current amount no longer covers the wholesaler’s or importer’s anticipated tax liability.
Become a wholesale distributor or importer
It is illegal for a person to act as a wholesale distributor or importer in the state of North Carolina without being legally licensed to do so. Prospective distributors and importers must obtain a license issued by the the Department of Revenue. Licensure will not be granted to an applicant who has not first obtained an ABC permit.
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