How much will my bond cost?
If you act as a distributor of alcoholic beverages within the State of New York, you are required to post a surety bond. Distributor acts 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
This specific bond type has a varying bond amount. This means that your bond amount is determined by the amount of alcohol you import, store or produce. To find out the bond amount you are mandated to post, contact the Department of Taxation and Finance.
Prior to contacting a surety expert, be sure to know your given bond amount. Providing this information can help speed up your bonding process and might lower your premium.
If your given bond amount is $10,000 or less, SuretyBonds.com can issue your bond instantly. No credit check is required.
Bond amounts that exceed $10,000 are subject to underwriting, meaning that the premium of your bond is determined by the financial credentials of your credit report.
Low credit? No worries! SuretyBonds.com offers a bad credit bonding program specifically for you. This program allows you to get bonded at the lowest rate available to your specific needs. To find out how much you could pay for your bond send a bond request.
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.
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.
Submit a bond request online to begin the bonding process now!
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