17 NCAC 04E .0601. BOND REQUIRED OF WHOLESALER AND IMPORTER

Proper bond shall be posted by resident wholesalers and importers subject to the beer or wine excise levies. This bond may vary yearly, based upon a review by the Documents and Payments Processing Division, Alcoholic Beverage and Amusements Tax Unit of the wholesaler's or importer's tax payments during the best 3 months of the previous 12 month period, and shall not be less than five thousand dollars ($5,000), nor more than fifty thousand dollars ($50,000). Bond requirements are as follows:

(1)           where the combined tax due for any three months of the previous 12 months exceeds forty thousand dollars ($40,000), the amount of the bond shall be fifty thousand dollars ($50,000);

(2)           where the combined tax due for any three months of the previous 12 months exceeds twenty-five thousand dollars ($25,000) but does not exceed forty thousand dollars ($40,000), the amount of the bond shall be forty thousand dollars ($40,000);

(3)           where the combined tax due for any three months of the previous 12 months exceeds twelve thousand five hundred dollars ($12,500) but does not exceed twenty-five thousand dollars ($25,000), the amount of the bond shall be twenty-five thousand dollars ($25,000);

(4)           where the combined tax due for any three months of the previous 12 months exceeds five thousand dollars ($5,000) but does not exceed twelve thousand five hundred dollars ($12,500), the amount of the bond shall be twelve thousand five hundred dollars ($12,500);

(5)           where the combined tax due for any three months of the previous 12 months does not exceed five thousand dollars ($5,000), the amount of the bond shall be five thousand dollars ($5,000).

 

History Note:        Authority G.S. 105-113.86; 105-262;

Eff. February 1, 1976;

Amended Eff. April 1, 2008; January 1, 1994; April 1, 1986.