New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 3 - ALCOHOLIC BEVERAGE TAX ACT- STATE LICENSEES
Subchapter 5 - BONDS
Section 18:3-5.2 - Amount of bond required

Universal Citation: NJ Admin Code 18:3-5.2

Current through Register Vol. 56, No. 18, September 16, 2024

(a) The total amount of the bond or bonds required to be filed is fixed by the Director and may be increased or reduced at any time subject to the limitations provided in this section.

(b) In fixing the total amount of the bond or bonds required to be filed by any licensee, the Director shall require a bond or bonds equivalent to an amount no greater than three times the tax on the greatest amount of alcoholic beverages handled during a bimonthly period of the previous 12-month period. In determining the amount of the bond, the Director shall take into account the applicant's prior record as a New Jersey taxpayer and all other information as may be available to him or her which would establish applicant's financial responsibility.

1. If the application is made by any person who has never before engaged in business in this State as a licensee, prior to any application being made, the Director, after investigation, shall fix the total amount of such bond or bonds from such information as he or she may obtain after such investigation.

2. The total amount of any bond or bonds required to be filed under this subchapter by any licensee can never be more than $ 1,000,000 nor less than $ 1,000.

3. The recovery on any bond or execution on any new bond does not invalidate any bond, and the revocation of any license is not deemed to affect the validity of any bond.

Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.