Mixed beverage tax bond cost
The Oklahoma Tax Commission requires businesses selling mixed alcoholic beverages to post surety bonds in varying amounts prior to operating within the state. The required bond amount varies and is based on the applicant’s estimated gross receipts tax liability. The bond amount should never be more than 3 times the amount of the average estimated gross receipts tax liability for a single quarter or less than the average quarterly gross receipts tax liability. Ultimately, the tax commission determines the required bond amount, and applicants should verify their required amount of bond coverage with the state prior to bonding.
These bonds are subject to underwriting, so the price you’ll pay depends not only on your required bond amount but also on a review of your personal credit report. Give us a call at 888.610.4474 or submit a bond request to begin our fast and easy bonding process.
Why this bond
By posting an Oklahoma mixed beverage gross receipts tax bond, the principal (alcoholic beverage seller) promises to report all invoices, details of transactions and operations concerning the sale of mixed alcoholic beverages to the Oklahoma Tax Commission. This bond also ensures that principals will pay any and all mixed beverages gross receipt taxes, penalties and interest due to the state promptly and in full.
If the principal violates any of the terms of the bond agreement and the state suffers financial loss as a result, the surety will cover all damages up to the full bond amount. The principal, in turn, must compensate the surety for any damages paid out.
Ready to purchase your Oklahoma alcohol tax surety bond? Contact our team of surety experts who will walk you through each step of our fast and easy bonding process!
Mixed beverage tax bond details
Oklahoma mixed beverage gross receipts tax bonds are continuous until canceled. If the surety decides to cancel this bond for any reason, it must provide a written cancellation notice to the Commission 30 days prior to effective termination date.
Legally sell mixed alcoholic beverages
Businesses that wish to sell mixed alcoholic beverages in Oklahoma must acquire a permit before doing so. The mixed beverage permit can be completed and submitted online and takes at least 5 business days to process. Therefore, it is strongly encouraged that applicants who need their permits sooner apply in person at the Oklahoma City or Tulsa Tax Commission offices.
Applicants will be asked to attach a copy of their ABLE license as well as the application fee when submitting online. The bond form will not be able to be attached to the online application. To submit the bond form, either mail it to the Oklahoma Tax Commission office or submit it in person.
Take the first step toward becoming licensed in Oklahoma by purchasing your mixed beverage gross receipts tax bond!
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