Illinois Liquor Gallonage Tax Bond
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How much does a liquor gallonage tax bond cost in Illinois?
Illinois liquor gallonage tax financial responsibility bonds are required by the Illinois Department of Revenue. The required bond amount must be equal to twice the principal’s estimated average monthly liquor tax liability. The minimum bond amount is $1,000, and the maximum bond amount is $100,000.
These bonds are subject to underwriting consideration, so the price you’ll pay depends on a review of your personal credit report, as well as on your required bond amount. Apply for your free, personalized bond quote now!
Getting bonded is fast and easy when you work with the professionals at SuretyBonds.com! Call 1 (800) 308-4358 to get started!
Why do I need this bond?
Illinois liquor gallonage tax bonds ensure that principals (taxpayers) pay all amounts due to the Illinois Department of Revenue under the Liquor Control Act.
If the principal fails to pay all taxes on time and in full, the bond protects the state from financial loss up to the full amount of the bond. The principal must reimburse the surety for all damages paid out.
We can provide your free, no-obligation bond quote within one business day. Get started now!
What’s the fine print?
Illinois liquor gallonage tax surety bonds are continuous until canceled. The surety can cancel this bond at any time by filing a written notice with the Illinois Department of Revenue at least 90 days prior to the termination date. The surety remains liable for any claims brought against the bond during this 90-day period.
How to become a distributor or importing distributor in Illinois
Applicants must obtain a license from the Illinois Department of Revenue before they can legally sell or distribute alcohol within the state. Applicants should be sure to attach the $270 filing fee and a surety bond in the appropriate amount to the completed application. A copy of a government-issued Federal Basic Permit must also be included.
Still have questions, or ready to get bonded quickly, easily, and accurately? Let our specialists help you get set up with the Illinois surety bond you need!
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