A source from the bid committee told The Independent that it is feared that donations from such companies, could undermine the message that the games can deliver health benefits by motivating young people to take up sport.
Consumers could be paying more for their whisky and vodka from 2006.
In a pre-budget report, The Financial Times reported that every bottle of spirits is to carry a tax-stamp to tackle duty evasion and that this will be introduced by early 2006.
More than one in six bottles of spirit sold in the UK evaded duty in 2001-02. Chancellor Gordon Brown said tax-stamps would reduce fraud by an estimated £160m a year.
Industry officials said the costs of the stamps would have to be passed onto consumers.
Meanwhile, small businesses could be forced to pay much higher income tax and national insurance bills, said BBC News Online.
The government believes some companies are taking advantage of generous provisions, which allow them to make tax and national insurance savings on dividend payments.
Anne Redston of Ernst & Young told the BBC: "This is the bombshell of this pre-budget, because it could affect so many ordinary people - from fish and chip shops to window cleaners."