Surety Bonds for Illinois Alcoholic Liquor Manufacturers
An alcohol manufacturer is a brewer, fermenter, distiller, rectifier, wine maker, blender, processor, and bottler, among others. Illinois alcohol manufacturers must obtain an Illinois Manufacturer's Liquor License in order to do business in the state. A part of licensing includes providing a surety bond to ensure state taxes are paid to the Illinois Department of Revenue.
Surety Bond Requirement
Manufacturers must file a surety bond of at least $1,000 and not more than $100,000. The bond amount is determined by the amount of alcohol expected to be sold and used by the manufacturer or distributor, and is not to exceed twice the amount of tax liability of a monthly return. The bond guarantees that the manufacturer will pay the Illinois Department of Revenue all taxes that are due. If taxes aren't paid, then a claim can be made on the bond, which can include payment for penalties and interest.
What Will This Bond Cost?
The premium you pay for an Illinois Liquor Manufacturer Surety Bond depends on the bond amount and your personal and business finances. Our low rates start at $100 for bond amounts $10,000 and less, and 1% of the bond amount for bonds over $10,000. Contact our Surety Bond Specialists for a free quote that fits your specific situation.
Did You Know?
A separate surety bond is required for each business location.
Related Links:
Application for State of Illinois Manufacturer's Liquor LicenseMore Surety Bond Questions?
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
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