A. Every holder of a mixed beverage, beer and wine, caterer or special
event license issued by the Alcoholic Beverage Laws Enforcement
Commission, as a condition precedent to the issuance of a mixed
beverage tax permit, shall furnish to the Oklahoma Tax Commission a
bond from a surety company chartered or authorized to do business in
this state, cash bond, certificates of deposits, certificates of
savings or U.S. Treasury bond, or an assignment of negotiable stocks
or bonds, as the Tax Commission may deem necessary to secure payment
of the gross receipts tax levied upon gross receipts of the licensees.
B. Any surety bond furnished under this section shall be a continuing
instrument and shall constitute a new and separate obligation in the
sum stated therein for each calendar year or a portion thereof while
such bond is in force. Such bond shall remain in effect until the
surety or sureties are released and discharged by the Tax Commission.
C. The Tax Commission, or its duly authorized agent, shall fix the
amount of such bond or other security for each licensee for each place
of business after considering the estimated gross receipts tax
liability of such licensee. Such bond shall be no less than an amount
equal to the average estimated quarterly gross receipts tax liability
and no greater than an amount equal to three times the amount of the
average estimated quarterly gross receipts tax liability.
Any bond or other security shall be such as will protect this state
against failure of the taxpayer or licensee to pay the tax levied by
Section 576 of this title. The forfeiture or cancellation of such bond
or security, for any reason whatsoever, shall automatically revoke the
mixed beverage tax permit issued pursuant to the provisions of the
Oklahoma Alcoholic Beverage Control Act.