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How much does a New York distributor of alcoholic beverages bond cost?
If you act as a distributor of alcoholic beverages in New York, you are required to post a surety bond in an amount based on the volume of alcohol imported, stored, or produced. The required bond amount can be found by contacting the Department of Taxation and Finance.
An alcoholic beverage distributor bond can be issued instantly and costs $12 per $1,000 of coverage, with the minimum premium of $100. Once the bond amount exceeds $25,000, the application must be reviewed by an underwriter.
Have any questions about your bonding needs? Call us at 1 (800) 308-4358 or fill out our easy bond request here to facilitate the bonding process today! SuretyBonds.com strives to provide the fastest and most efficient bonding services nationwide!
Why do I need this bond?
By posting a bond, the principal (distributor) guarantees to faithfully discharge all duties under Article 18 and any regulations dictated by the Department of Taxation and Finance. Furthermore, the principal promises to account for and pay all sums due to the Department. Acts carried out by alcoholic beverage distributors include:
- Importing beer or wine
- Storing beer or wine in a warehouse within NY and purchasing warehouse receipts
- Brewing, producing, distilling or manufacturing beer or wine
Have a question or concern? Contact a surety professional through a bond request.
What’s the fine print?
All bonds will remain in full force unless canceled by the surety. If the surety chooses to cancel this bond, a written cancellation notice must be mailed to the Department of Taxation and Finance 30 days prior to the deemed cancellation date.
How to become an alcoholic beverage distributor in New York
To be approved, you must be licensed by the State Liquor Authority and register as a sales tax vendor.
For additional information contact the Department of Taxation and Finance.