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How much will my New Jersey alcohol tax bond cost?
The required amount of New Jersey alcohol tax bonds vary and are determined by the Director of the Division of Taxation. The required bond amount cannot be more than 3 times the tax liability of the highest amount of beverages handled in a 2 month period or $1,000,000. The minimum required bond amount is $100.
Prior to contacting SuretyBonds.com, an applicant must know his or her required bond amount. If your required bond amount is less than $10,000, we can instantly issue your bond for a minimum of $100 at a rate of $12 per $1,000 of bond coverage. Bonds in amounts greater than $10,000 will be subject to underwriting.
Have questions about this specific bond? Contact one of our surety specialists! Our team of experts works hard to get you the bond you need quickly, easily and accurately.
What are New Jersey beverge tax bonds?
New Jersey alcoholic beverage tax bonds ensure that principals (alcohol retailers/distributors) adhere to all of the provisions of Title 54, Taxation, of the New Jersey Revised Statutes. Specifically, these bonds ensure that the principal pays all taxes, penalties and interest due to the state, as well as files reports and pays all taxes relating to sales or deliveries made during the license period.
Beverage tax bonds are required by the State of New Jersey and expire annually on June 30. The surety can choose to cancel this bond at any time, but 30 days’ written notice must be given to the Treasurer of the State of New Jersey prior to termination.
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How to become an alcohol retailer or distributor in New Jersey
Businesses that want to ship alcohol to New Jersey must register with the New Jersey Division of Revenue. Out-of-state suppliers must meet the following requirements to be allowed to ship wine, beer, liquor, and all other alcohol to New Jersey consumers:
- Be at least 21 years of age
- Only ship products they have manufactured
- Produce no more than 250,000 gallons of wine per year
- Ensure that products sold and shipped in New Jersey are registered brands
- Comply with all New Jersey tax collection requirements
Separate in-state applications must be completed by each cooperative member of the supplier. A cooperative group application form and all filing fees must accompany each of the applications.