it's been my experience working in many cities throughout the u s that it is not acceptable to sell from your private cellar. you need a resale tax stamp on the bottle that comes only from an approved distributor. again though, check the local ordinances.
here in chi, you pay c.o.d. on beer, unless you've set up an escrow acct w/the distributor after you pass credit checks. spirits are 30 days. failure to pay promptly puts you on a statewide "no sale" list, where no one can sell to you until you rectify it.
i actually know of someone that acquired a huge cellar (10,000 bottles) prematurely, prior to receiving his liquor license. he thought he'd be able to use it on the upcoming project. none can be sold legally. it's fun going to his house though.
"In pursuit of joys untasted"
from Giuseppe Verdi's La Traviata