What is a Hawaii Alcohol Tax Bond?
Notwithstanding the efficacy of alcohol taxation in generating government income, increased taxes for alcoholic drinks have encountered stiff opposition from political personalities and groups. Major concerns hoisted by detractors of alcohol tax increases are that 1) alcohol taxes are iniquitous to” responsible” drinkers (meaning those who drink moderately), and 2) the rate of alcohol tax increases are unreasonably shouldered by economically destitute people. To lessen the inequity perceived by some quarters within American society, some measures of “balancing act” have to be put in place. One of these is the Alcohol Tax Bond.
The Hawaii Alcohol Tax Bond is an impregnable pronouncement that the business owned by an authentic resident of Hawaii, having business locations within the territorial jurisdiction of the state operates with scrupulous accuracy acquiescent to all of Hawaii’s laws concerning the sale, production, and distribution of wines and spirits. This bond is likewise a sound assurance that importers and wholesalers will not engage in any of the following acts:
- Lending money or any valuables to a vendor;
- Putting investments, openly or incidentally, in a retail store;
- Providing or equipping premises, edifices, bar or equipment to retailers;
- Involvement, openly or incidentally, in the operations of a retail liquor store.
Why do you need a Hawaii Alcohol Tax Bond?
You need the Hawaii Alcohol Tax Bond because you want to be viewed as a respectable business owner who knows how to observe governmental controls and who knows how to look after the welfare of the consuming public.
The Alcohol Tax Bond is strictly required before the commencement of business operations. A minimum of $25,000 bond must be posted as tax security. Premium payments will be determined by the applicant’s credit score and financial history.
Likewise, the profile of the applicant including his/her reputation as a member of the community will be a strong factor in the decision of how much the premium will be for this bond. For those with satisfactory credit standing, premium rates normally vary from 1% to 5% of the whole bond amount. With clients who have poor credit, they will be asked to pay premium rates as high as 15%.
What is the cost of a Hawaii Alcohol Tax Bond?
The Hawaii Alcohol Tax Bond cannot be obtained before the applicant secures a license. Liquor laws in the State of Hawaii strictly prohibit anyone to produce or sell without a license. If for any reason, someone acts in person or by or through any representative, servant, or member of staff, generate or sells any liquor, either directly or indirectly, or upon any cheating or by any maneuvers, except as authorized and in consonance with the said law, the person shall be fined not more than $2,000 or incarcerated not more than one year or both.
How do I get a Hawaii Alcohol Tax Bond?
Getting an Alcohol Tax Bond is simple. Choose a genuine surety professional that is authorized to operate within the state of Nevada and immediately give them a call! An expert surety professional can readily provide you the answers you need and the solution to whatever concerns you have in the operation of your business.