What is an Illinois Liquor Gallonage Tax Bond?

See why this surety bond matters to you as a manufacturer or importing distributor of liquors!

Every person who is applying for a manufacturer or importing distributor of a liquor license must furnish a surety bond satisfactory to the Illinois Department of Revenue.

 

This includes the following:

Class 1. Distiller

Class 2. Rectifier

Class 3. Brewer

Class 4. First Class Wine Manufacturer

Class 5. Second Class Wine Manufacturer

Class 6. First Class Winemaker

Class 7. Second Class Winemaker

Class 8. Limited Wine Manufacturer

Class 9. Craft Distiller

Class 10. Craft Brewer

 

The surety bond’s purpose is to secure the payment of taxes, charges, and penalties incurred by the licensed manufacturer or importing distributor of liquor.

 

If the licensee defaults on his or her tax payment obligations, the Obligee of the surety bond will be eligible to recover the loss by filing a claim against the bond up to its penal sum.

 

This requirement is mandated by the Liquor Control Act of 1934.

 

What is the Liquor Gallonage Tax Bond amount?

The bond amount will vary per license applicant or licensee. The bond amount will be twice the average monthly liability of the license applicant or licensee.

  • $1,000 – minimum bond amount
  • $100,000 – maximum bond amount

Those who have excellent credit scores will be eligible for a very low bond premium!

 

How can I get a Liquor Gallonage Tax Bond?

Here’s a step-by-step bonding process that we have made easier so that you can get your bond in no time:

 

BOND APPLICATION

You must first apply for this type of surety bond. If you are ready to do this now, you may APPLY HERE!

 

Our expert surety bond agent will guide you through the entire process – from the time you have applied until the bond is issued to you.

 

ASSESSMENT

Next, you will be asked to submit a few important information that our underwriter will need to assess the following:

  • Your job or business history
  • Your credit score

To avoid any delays, make sure that you have gathered the right information needed before submitting.

 

BOND ISSUANCE

Once the underwriting process is done, we will immediately issue your bond and send it to you right away!

 

What are the surety bond conditions?

  • The surety bond agent or company should be authorized to conduct business in the State of Illinois.
  • The surety bond should be made payable to the People of the State of Illinois.
  • The licensee shall obey the provisions of the Liquor Control Act of 1934, as well as the rules and regulations of the Illinois Department of Revenue.
  • If the licensee commits a violation, the aggrieved party will be eligible to file a claim against the bond.

Need assistance with the Liquor Gallonage Tax Bond? Call us at 800-333-7800!