What is an Illinois Alcoholic Tax Bond?
Illinois Alcoholic Tax Bond's are required by Illinois's Department of Revenue to obtain your Illinois Alcoholic Tax Bond. The Illinois Alcoholic Bond amount is set at $1,000. The condition of this bond is that if the principal (taxpayer) identified above, who has applied for a license for Liquor Gallonage Tax, pays to the Illinois Department of Revenue (IDOR) all amounts becoming due from the principal (taxpayer) under the Liquor Control Act, then the bond will become void; otherwise, the bond will remain in full force. The surety identified above may conditionally cancel this bond at any time by fi ling a written notice with IDOR by registered or certified mail within 90 days. However the surety is not discharged from any liability previously accrued under this bond or that may accrue before the 90 days expire.
The State requires a Sales Tax bond for :
a minimum of a $1,000 to a $100,000 surety bond
Different parts of a bond:
There are 3 parts to a Alcoholic Tax surety bond. The Principal "YOU", The Surety Company, and the Obligee. The Principal is the business or individual applying for the Alcoholic Tax Surety Bond. The Obligee is the individual or entity requiring the Surety Bond and the Surety Company is the company who provides the Surety Bond coverage.
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Illinois Alcoholic Tax Bond Information and Requirements:
You must provide this information to the financial institution or insurance company that will be providing your bond. A separate
bond is required for each location. You will not be issued a certificate of registration and cannot be legally registered to do
business in Illinois until we receive your bond. Your bond can be in the form of a
Insurance bond: Form REG-4-B, Financial Responsibility Bond Liquor Gallonage Tax, must be completed entirely by your
insurance company. Your business' name and address must be identical to the information you have registered with us. The
insurance company issuing your bond must
• stamp their insurance seal;
• assign a bond number; and
• if applicable, attach their power of attorney stating the attorney-in-fact's name.
All of your business' owners, officers, or partners must sign the bond. If you are a corporation, the president and secretary must
sign the bond. You must also affix your corporate seal. Note: The original bond and power of attorney must be sent to us.
Letter of Credit: Form REG-4-C, Financial Institution Irrevocable Letter of Credit Bond Liquor Gallonage Tax, must be
completed entirely by your financial institution. Your business' name and address must be identical to the information you have
registered with us. The financial institution issuing your letter of credit must
• stamp their financial institution seal; and
• send to us the original bank letter of credit containing the seal.
Note: The Letter of Credit must be signed by an authorized officer of the financial institution.