In this temporary rule, TTB amends its regulation that sets forth the minimum amount of bond coverage, or penal sum, for a brewer’s bond where the excise tax liability of the brewer is reasonably expected to be not more than $50,000 in the current calendar year and the brewer was liable for not more than $50,000 in such taxes in the preceding calendar year For a period of three years, the penal sum of the required bond will be $1,000 for such brewers who file excise tax returns and remit taxes quarterly. Also see the related notice of proposed rulemaking (Notice No. 131) in which TTB proposes to make this change permanent and also proposes other regulatory changes affecting small brewers.
Document Subtype:
Temporary Rule
Received Date:
December 07 2012, at 12:00 AM Eastern Standard Time
T.D. TTB-109: Small Brewers Bond Reduction (Temporary Rule)
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