If you wish to sell beer and/or light wine to wholesalers in the state of Mississippi, there are a number of requirements you must meet. Common requirements include completing a Brewer’s Agreement form and submitting a copy of your Federal Basic Importer’s Permit. You will also need to purchase and send a Mississippi Beer and Light Wine Wholesalers Bond to the state.
What Is A Mississippi Beer and Light Wine Wholesalers Bond?
A Mississippi Beer and Light Wine Wholesalers Bond is a type of surety bond that is required of anyone involved in the business of manufacturing light wines or beer, in the business of wholesaler of distributor of light wines or beer, or in the business of a brewpub.
This bond promises you will conduct your business activities according to the laws of the State of Mississippi, and that you will comply with the rules prescribed by the Commission. This bond also promises you will pay all taxes that relate to your business.
How Does This Bond Work?
When you get a MS Beer and Light Wine Wholesalers Bond, you are called the Principal. You are the one who is responsible for behaving ethically and in accordance with industry standards. This bond is not a protection for you, but rather for the State of Mississippi.
If you don’t abide by industry standards, a claim can be made against your bond, and if proven valid, the surety company who issued your bond will pay the state for any financial losses. Since you are the Principal, though, the surety company will come to you for reimbursement of these finances.
How Much Does A Mississippi Beer and Light Wine Wholesalers Bond Cost?
The Mississippi State Tax Commission will set your bond amount. The bond amount will be between $5,000 and $200,000.
You will not need to pay the entire bond amount! Instead, you will just pay a portion of it. The price you’ll pay is based on your personal financial strength as seen in your credit score.
Those with good credit (over 650) might only need to pay 1% of the total bond amount. So if you need a $10,000 bond, and you get approved at a 1% rate, you might only need to pay $100 for your bond.
Getting a bond can be expensive, but it doesn't have to be. At Surety Solutions, our online Bond Cost Calculator lets you view quotes for your bond so you can compare prices before you buy. We are licensed in all 50 states and have relationships with over 30 of the top insurance carriers in the nation. This means we not only can get you bonded but at the best price. Your free quotes for your MS Beer and Light Wine Wholesalers Bond are just a click away.
For more information on selling wine and light beer, check out the Mississippi Department of Revenue website.