All wineries, wine import businesses and wine distributors must obtain a federal wine bond and file it with the TTB division of the Bureau of Alcohol, Tobacco and Firearms. The bond has compliance elements however five of the seven specific obligations are tax related, so essentially it is a financial guarantee that the principal will pay its taxes. The bond can be as little as $1,000, however there are formulas for calculating the bond penalty based on wine volume that the TTB expects a wine professional to follow. Surety One, Inc., is the nation’s leader in commercial surety and a responsive underwriter of federal surety obligations. Visit us at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com.
