Tennessee Liquor by the Drink - Alcohol Tax Surety Bond
Liquor-By-the-Drink (LBD) or On-Premise Consumption licenses are required of restaurants, hotels, private clubs and other establishments under Tennessee law. An LBD or On-Premise Consumption license allows an establishment to sell and dispense alcoholic beverages that contain an alcoholic content greater than five percent (5%) by weight, such as, liquor, wine and high alcohol content beer. Licensees are required to post and maintain a Consumption on Premises - Alcohol Tax Surety Bond as part of the licensing requirements. The Consumption on Premises - Alcohol Tax Surety Bonds guarantee that the licensee will properly pay all taxes, penalty and interest connected with the sale of alcoholic beverages for consumption on the premises. The amount of surety bond required is based on 3 months of the taxes connected with the sale of alcoholic beverages for consumtion on premises and it is adjusted annually based on reports turned in to the Tennessee Alcoholic Beverage Commission.
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