Texas HB 3572 went into effect on January 1, 2014. This law lowers the mixed beverage gross receipts tax rate from 14 to 6.7 percent. The bill also imposes an 8.25 percent mixed beverage sales tax on each of the following items sold, prepared or served:
- mixed beverages (distilled spirits, beer, ale and wine)
- non-alcoholic beverages to be mixed with an alcoholic beverage and consumed on premises
- ice to be mixed with an alcoholic beverage and consumed on premises
Prior to the introduction of the mixed beverage sales tax, permittees were required to post a $7,500 mixed beverage gross receipts tax surety bond. Now, permittees must post both a gross receipts tax surety bond and a mixed beverage sales tax surety bond. Due to the change in the structure of mixed beverage taxes, required bond amounts may be altered.
The required amount of both surety bond types are determined by the state based on the applicant’s unique tax filings. On the same note, the amount the applicant will pay for his or her bond will depend on the required bond amount and the applicant’s personal credit score and other financial credentials.
Visit the Texas Window on State Government website for more information about mixed beverage gross receipts tax and mixed beverage sales tax requirements.
The experts at SuretyBonds.com are familiar with this new bond requirement and are ready to assist you with all of your bonding needs. We have these specific bond forms on file to expedite the bonding process. If you’re ready to find out exactly how much you’ll pay for your Texas mixed beverage surety bonds, contact us via our easy online contact form, or call us at 1 (800) 308-4358 Monday through Friday between 8 a.m. and 7 p.m. CST.