What is an Oklahoma Mixed Beverage Gross Receipts Tax Bond?
The beverage industry is a mature segment which is composed of companies that market non-alcoholic and alcoholic goods. In comparison to other existing businesses, growth opportunities in the mixed beverage sector are few, reason why most members in the industry make an effort to diversify their offerings to better battle against the giants and gain a share of the market pie. However, to gain a bigger piece of the market, mixed beverage business owners will have to have a more concrete mechanism to be able to sustain customer patronage and loyalty. That mechanism is the Mixed Beverage Gross Receipts Tax Bond.
The Oklahoma Mixed Beverage Gross Receipts Tax Bond is a rigorous warranty signifying mixed beverage business owners’ compliance with all the provisions stated within the Oklahoma Mixed Beverage Act and all applicable Oklahoma statutes.
By posting the Oklahoma Mixed Beverage Gross Receipts Tax Bond, alcoholic beverage sellers promise to report to the Oklahoma Tax Commission all proofs of purchase and provide a full account of all transactions and operations concerning the trade of mixed alcoholic beverages.
Why do you need an Oklahoma Mixed Beverage Gross Receipts Tax Bond?
The bond likewise serves as a defense against mixed beverage business owners who engage in underhanded activities or carry out business transactions in a disgraceful approach and deliberately fail to pay their taxes, charges, and fines.
You need the Oklahoma Mixed Beverage Gross Receipts Tax Bond because your mixed beverage enterprise is an essential component of your being a business owner and you see your trade as central to the economy. The bond can serve as an excellent marketing tool for you to stand out among your peers within the industry. With this bond, your clients and other stakeholders will look at you as an entrepreneur of dependability, someone who can be trusted, and a true professional.
How much does an Oklahoma Mixed Beverage Gross Receipts Tax Bond cost?
The Oklahoma Mixed Beverage Gross Receipts Tax Bond amount varies and is based on the alcohol seller’s projected gross receipts tax accountability. The amount should never be over three times the amount of the average expected gross receipts tax liability for a single quarter or less than the average quarterly gross receipts tax liability. Eventually, it is the tax commission that determines the necessary bond amount.
The bond shall be an ongoing device and shall comprise a fresh and distinct responsibility in the sum confirmed for each calendar year or a portion thereof while such bond remains enforceable. Such bond shall remain in effect until the surety or sureties are released and discharged by the Tax Commission.
The bond’s premium amount is dependent on the pawnbroker’s credit history, standing in the community, reputation within the pawnshop industry, and whether or not the pawnbroker has been previously convicted of a crime. For those who have a dismal credit score or questionable reputation, a higher premium rate will likely be charged.
How do I get an Oklahoma Mixed Beverage Gross Receipts Tax Bond?
Getting an Oklahoma Mixed Beverage Gross Receipts Tax Bond is easy. Choose a reliable surety company that you know can serve your specific needs, can address your concerns without delay, and can respond to whatever challenges you will encounter in the process. Give them a call NOW!