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What is the purpose of a Texas Mixed Beverage Gross Receipts Tax Bond?
The Mixed Beverage Gross Receipts Tax Bond is required by the Comptroller of Public Accounts. The bond states that the bondholder will pay–on a timely basis–all taxes, interest, penalties, and costs accruing against the bondholder as required by Chapter 183, Texas Tax Code. Effective 1/1/2014, the Comptroller requires not only the Mixed Beverage Gross Receipts Bond but the Mixed Beverage Sales Tax Bond as well, for all NEW businesses. The former $7,500 bond was split in half and distributed between both bonds. Leaving them with a $3,750 for each bond. In most cases, the premium for this bond is as low as 1%. Meanwhile, private clubs must have a bond amount of $2250 while private club exemption has a bond amount of $1500. The maximum bond amount is at $100,000. This bond must be issued by a surety company licensed in the state of Texas.
How do I obtain a Texas Mixed Beverage Gross Receipts Tax Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). When the paperwork is finished and the premium is processed, your surety bond will be shipped. Either via USPS Priority Mail or your preferred expedited shipping method(for an additional cost).
The surety bond experts at Surety Solutions Insurance Services, Inc.(Surety1), are available to help you get bonded quickly and with ease. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.