Arizona Laws 42-3351. Bonds required of liquor wholesalers; exemption
A. Every wholesaler of spirituous, vinous and malt liquors shall file with the department, in such form as the department prescribes, a bond or bonds, duly executed by the wholesaler as principal, and with a corporation duly authorized to execute and write bonds within the state as surety, payable to the state, and conditioned upon the payment of all taxes, penalties and other obligations of the wholesaler arising under this chapter.
Terms Used In Arizona Laws 42-3351
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Department: means the department of revenue. See Arizona Laws 42-1001
- Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
- Wholesaler: means a person that sells any spirituous, vinous or malt liquor taxed under this chapter to retail dealers or for the purposes of resale only. See Arizona Laws 42-3001
B. The department shall fix the total amount of the bond or bonds required of the wholesaler and may increase or reduce the amount at any time. In fixing the total amount, the department shall require a bond or bonds equivalent in total amount to twice the wholesaler’s estimated monthly tax, ascertained in such manner as the department deems proper. The total amount of the bond or bonds required of any wholesaler shall not be less than two thousand dollars.
C. A wholesaler is exempt from the requirements of this section if the wholesaler has made timely payment of the taxes imposed by this chapter for the twenty-four consecutive months immediately preceding the current month.