What is an Oklahoma Alcohol Tax Bond?

Oklahoma Alcohol Tax BondIn 2015, beer was an extensively guzzled alcoholic drink all over the world. Production-wise, the United States is the 2nd highest-beer producing country in the world with an amount of about 224 million hectoliters, next to China.
In the wine territory, the international market was led by Italy, Spain, and France while the U.S. was ranked the 4th biggest wine-producing nation with a production volume reaching 22.1 million hectoliters in 2015 alone. In the same year, the country was also listed as among the biggest exporters of wine worldwide.

With the passage of time, spirits market sales comprised more than a third of total alcohol sales in the U.S in 2015 and were estimated to produce 113.78 billion U.S. dollars in sales. With an industry operating in this magnitude, it is a must that its players protect themselves and all those who transact business with them including end-users who incessantly buy alcoholic beverages from them.

The Oklahoma Alcohol Tax Bond is a secure declaration guaranteeing that the business owned and operated by a genuine resident of Oklahoma, operates with painstaking precision compliant to all of Oklahoma’s laws concerning the sale, production, and distribution of wines and spirits. This is also a financial guarantee which protects the government from fallacious records of sale or incapacity to pay obligatory taxes from previous income.

 

Why do you need an Oklahoma Alcohol Tax Bond?

You need the Oklahoma 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.

 

How much does an Oklahoma Alcohol Tax Bond cost?

The Oklahoma Alcohol Tax Bond is strictly required before commencement of business operations.  The mandatory sum of the bond is determined by the volume of wine sold, distributed or manufactured. Premium payments will be determined by your credit score and financial history. Likewise, your profile including your reputation as a member of the community will be strong factors 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. Conversely, those who have substandard credit, will be asked to pay premium rates as high as 15%.

For the bond to be truly acceptable, it is your duty to see to it that the information provided on your bond application is precise and accurate. You have to be certain that the name of your organization is written and such business name can be found on your license.

 

How do I get an Oklahoma Alcohol Tax Bond?

Getting an Oklahoma Alcohol Tax Bond is simple. Choose a genuine surety professional that is authorized to operate within the state of Oklahoma 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.

Share this content!