How much does an alcoholic beverage distributor bond cost in Connecticut?
Connecticut’s Department of Revenue Services requires distributors of alcoholic beverages to post surety bonds prior to conducting business. Applicants who produce less than 100,000 gallons of wine must post $500 bonds, while applicants who produce more than 100,000 gallons of wine must post $2,000 bonds. When renewing their surety bond, applicants should verify their required bond amount with the state, as the amount is based on the previous year’s return.
Alcoholic beverage distributor bonds for new licensees are issued instantly starting at $100, however, the exact premium may be prorated. Renewal bonds are also issued instantly at a rate of $12 per $1,000 of coverage with a minimum premium of $100.
|Bond Type||Bond Amount||Cost|
|$500 Alcoholic Beverage Distributor Bond New Business - Produce less than 100,000 gallons of wine||$500||Starts at $100|
|$2,000 Alcoholic Beverage Distributor Bond New Business - Produce more than 100,000 gallons of wine||$2,000||Starts at $100|
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Why do I need this bond?
By posting a Connecticut alcoholic beverage distributor bond, principals (distributors) guarantee to pay all taxes and fees imposed by state or local laws. If any distributors 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 up to the full bond amount. The surety will initially compensate harmed parties, but the principal must reimburse the surety for all damages paid out.
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What’s the fine print?
Alcoholic beverage distributor bonds in Connecticut must be renewed each year on or before June 30 for as long as the distributor wishes to hold a license. Completed bond forms must be mailed to the Department of Revenue Services in Hartford, Connecticut.
How to become an alcoholic beverage distributor in Connecticut
To legally distribute wine and other alcoholic beverages in Connecticut, the applicant must obtain a permit issued by the Department of Consumer Protection. He or she must also file a surety bond in the correct amount and register for a Sales Tax Permit and an Alcoholic Beverage Distributor License. Both of these permits will be issued through the Department of Revenue Services.
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