Michigan Liquor Excise Tax | Liquor Excise Tax Surety Bond

Also known as: liquor excise tax bond

Type of Bond

A liquor excise tax bond, also known as an alcohol tax bond or liquor tax bond, is a type of surety bond required for businesses involved in the production, importation, distribution, or sale of alcoholic beverages. It is specifically designed to ensure that businesses comply with their obligations to pay excise taxes on alcohol to the appropriate government agencies. The purpose of a liquor excise tax bond is to protect the government and the public by providing a financial guarantee that the bonded business will fulfill its tax payment responsibilities. Excise taxes on alcohol are imposed by federal, state, or local governments, and failure to pay these taxes can result in significant financial penalties and legal consequences. The bond is a contract among three parties: the alcohol-related business (the principal), the government agency responsible for collecting excise taxes (the obligee), and the surety bond provider (the surety). If the bonded business fails to pay the required excise taxes, a claim can be filed against the bond. The surety bond provider will investigate the claim, and if it is found to be valid, the surety will compensate the government agency for the unpaid taxes, up to the bond's stated amount. The specific requirements for liquor excise tax bonds vary depending on the jurisdiction and the level of government imposing the taxes. The bond amount is typically based on the anticipated volume of alcohol sales or the expected tax liability. Businesses involved in the alcohol industry, such as distilleries, breweries, importers, distributors, or retailers, may be required to obtain this bond as a condition for obtaining or maintaining their licenses. Working with a surety bond provider is typically necessary to obtain a liquor excise tax bond. The bond application process usually involves a financial review and underwriting assessment, and the bond may need to be renewed periodically, often on an annual basis or as required by the taxing authority. It is essential for businesses in the alcohol industry to understand and comply with their obligations regarding liquor excise taxes, including obtaining the necessary bond coverage, to avoid financial and legal repercussions.


Program

The price you'll pay for your Liquor Excise Tax Bond is generally based on your personal credit score. Start a free online quote by just completing a simple app or by calling 888-518-8011. Our experts will walk you through a very simple process. Compare our quote as the very lowest price, and then you're good to go! It's that simple!

We provide all types of Liquor Excise Tax Bonds. Worldwide Insurance Specialists, Inc. has "in house" underwriting authority with the largest and best Surety (Insurance) companies in the world including, Great American, Liberty Mutual, Philadelphia, Travelers, and CNA Surety. All of these surety bond companies are A-rated under the AM Best credit rating system, and T-listed with the U.S. Department of Treasury. This guarantees that by getting bonded through us, you will be provided the backing of these highly trustworthy and reliable companies.


Application

The application process for a Liquor Excise Tax Bonds is easy! Many Bonds are INSTANT ISSUE! Easy Application, no underwriting, no credit check, no GIA required. Our NEW Desktop underwriting program provides you with a rapid approval process used to determine the degree of risk that you (the Principle) complete a project or obligation. Non-INSTANT ISSUE quotes can also get instantly approved. Submissions require very little information from you. Once you file and sign an indemnity agreement, we issue the Bond. It's that simple! We quote and issue Surety Bonds of every type and will help you through the entire process. These applications only require basic information about your business, bond type, and ownership structure. Once the application is complete, we submit to the insurance company (Surety) who will then issue your bond. Don't pay too much! Get your Bond Fast, and Easy with the best price! Click here to start the Liquor Excise Tax Bond Application process.

Obligee Information

An obligee is the entity that is requiring you to have the Liquor Excise Tax bond.

For your convenience you can view a sample copy of the Michigan Liquor Excise Tax Bond Form.

Obligee: Michigan Liquor Control Commission (MLCC)
Street: 7150 Harris Drive
State: Michigan
Zip: 48909