Oklahoma Mixed Beverage Gross Receipts Tax Bond
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How much does a mixed beverage tax bond cost in Oklahoma?
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.
Bonds less than $8,000 can be issued instantly for a set $100 premium. Bonds greater than $8,000 but less than $10,000 are issued at a rate of $12 per every $1,000 of the bond amount with a $100 minimum. Bonds greater than $10,000 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.
The best way to find out exactly how much you’ll pay for your Oklahoma surety bond is to request your free bond quote now!
We can provide your free bond quote within 1 business day of submitting your application. Call 1 (800) 308-4358 or click here to get started!
Why do I need 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!
What’s the fine print?
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.
How to legally sell mixed alcoholic beverages in Oklahoma
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.
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