First Class Wine Manufacturer (up to 50,000 gallons a year) - $600
Second Class Wine Manufacturer (over 50,000 gallons) - $1,200
First Class Wine Maker - (up to 50,000 gallons) - $600
Second Class Wine Maker - (50,000-1001000 gallons) - $1,200
Craft Distiller - $1,800
What is an Illinois Liqour Tax Bond?
A liqour tax bond is a type of surety bond that is a sort of guarantee that a company will pay the taxes it accrues on sales of wine. These bonds can be purchased from most any surety company. If a winery or similar business does not pay their taxes in full the Liquor Control Comission could make a claim on the business's bond. The surety company the bond was purchased from would then investigate the claim and if the company found it was a valid claim they would pay out on the bond, up to the full amount. In the end the winery is responsible to pay the surety for any losses due to claims.
How Much Does The Bond Cost?
The price that you pay for your bond depends on two things, the amount of the bond and your financials:
1. Bond Amount
Your bond amount is determined by twice your average monthly liqour tax.
The actual price you pay is only a percentage of the full bond amount. This percentage is largely determined by your personal credit score and business financials. If you have decent credit your bond should cost about 1-5% of the total bond amount.
How Can I Get An Illinois Liquor Tax Bond?
Surety Solutions offers free online quotes for liquor tax bonds from over 30 different surety companies so that you can find the best price out there. If you are ready to get a quote and/or purchase just click the link below or give us a call at 866.722.9239.