Keep Your Business Compliant with Tax Laws
Wisconsin is famous for its breweries. Besides the traditional big-name breweries that everyone is familiar with, a variety of craft breweries, micro-breweries and nano-breweries are springing up all over the state. Wisconsin is also home to many popular wineries and distilleries.
Compared to the rest of the country, Wisconsin lands near the top of the chart in alcohol consumption, and the state enjoys around $8.6 billion in revenue as a result.
That revenue comes from taxes. Those who manufacture, import or bottle distilled spirits, beer or wine will be subject to the Fermented Malt Beverage Tax or the Intoxicating Liquor, Cider and Wine Tax.
Besides the tax requirement, these businesses may also be required to provide a security, such as a surety bond, as a guarantee that they will pay their taxes. The security amount must be equal to twice the business’ estimated maximum monthly liquor tax. It can be no less than $1,000 and no more than $100,000.
How to Get Bonded
If your business license requires a surety bond, you must purchase it from a Surety through a licensed agent, such as SuretyGroup.com.
SuretyGroup.com‘s Surety Bond Specialists can often give you same-day approval that makes the process quick and easy.
Have questions? SuretyGroup.com can help. Give us a call at 1‑844‑432‑6637 and our Surety Bond Specialists can walk you through the bonding process.
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