North Carolina Alcohol Wholesale Distributor or Importer Tax Bond
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How much does a North Carolina 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. A $2,000 surety bond is also required for nonresident vendors.
The cost of a North Carolina wholesale distributor or importer bond is just $100 if the bond amount is $5,000 or less. The premium for a larger bond amount is determined by an underwriter and is based on the applicant’s qualifications.
Call SuretyBonds.com at 1 (800) 308-4358 or fill out our online bond request form. Our team of bond specialists works hard to get you bonded quickly, easily and accurately.
Why do I need 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.
Our surety specialists are ready to answer all of your questions and get you set up with the North Carolina surety bond you need quickly, easily and accurately. Apply for a free bond quote today!
What’s the fine print?
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.
How to become a wholesale distributor or importer in North Carolina
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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