Texas Continuous Bond Mixed Beverage Gross Tax Receipts
AmeriPro Surety Bonds | 844-589-9732
Texas mixed beverage dealers, that is, those who make, prepare or serve mixed beverages; and, those who make, prepare and service non-alcoholic beverages that are to be used in alcoholic beverages, are required to account for gross tax receipts by the state’s Comptroller.
The Comptroller may require such businesses to obtain a surety bond in an amount to be determined by the state. That amount will likely vary from business to business.
The surety bond requirement serves as a financial guarantee, on behalf of the state, that in accordance with Chapters 151 and 183 of the Texas Tax Code, that all related taxes, interests, penalties, and fees will be paid.
Amount of Bond Required
According to Chapter 183 of the Texas Tax Code, the surety bond will be:
- At least $1000
- Or, more than the greater of $100,000, or 4 times the amount of your average monthly tax liability.
Qualifying and the Premium
As noted above, the Texas Comptroller will determine how much of the Texas continuous bond for mixed beverage gross tax receipts you are required to obtain.
Qualifying for this surety bond includes completing a short surety bond application (our agency will begin the application with you over the phone, but you’ll need to finish the application and sign it); and undergoing an underwriter review, which includes a credit check.
Our agency requires good credit for the approval of your bond. The approval rate is 1%.
However, since the mixed beverage bond for gross tax receipts has an expiration date of December 31st, your bond may be prorated as to the premium.
Prorating is determined by the date of the purchase and the amount of the bond. For smaller bonds, there is no prorating of the premium.
Issuing Your Surety Bond and Filing
After the approval of your surety bond and payment of the premium, our agency issues your surety bond and Power of Attorney form to you immediately for filing.
You will sign and file the original surety bond and POA form to:
Texas Comptroller of Public Accounts
P.O. Box 13528
Austin, TX 78711
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in Texas and all 50 states; also, the District of Columbia.
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