TTB Publishes Final Rule on Reduced Brewer’s Bond Amount and New Tax Requirements

Share Post

The Alcohol and Tobacco Tax and Trade Bureau (TTB) announced the publication of a final rule instituting a flat $1,000 penal sum for the brewer’s bond for brewers whose excise tax liability is reasonably expected to be not more than $50,000 in a given calendar year and who were liable for not more than $50,000 in such taxes during the preceding calendar year. That same class of brewers will now also be required to file Federal excise tax returns, pay tax, and submit reports of operations on a quarterly basis. The final rule, T.D. TTB–123 (Small Brewers Bond Reduction and Requirement to File Tax Returns, Remit Tax Payments and Submit Reports Quarterly), will become effective on January 1, 2015. The Brewers Association submitted comments to TTB in February 2013 in support of these changes which will reduce the paperwork burden on brewers.

Was this article helpful?