3d0g Posted November 9, 2016 Share Posted November 9, 2016 Hot off the press... https://www.ttb.gov/pdf/ttb-g2016-4-path-act-bond-requirements-guidance.pdf Link to comment Share on other sites More sharing options...
RobertS Posted November 11, 2016 Share Posted November 11, 2016 Looks to only really effect very small distilleries and ones that only produce spirits for fortifying wine or beer? Link to comment Share on other sites More sharing options...
3d0g Posted November 11, 2016 Author Share Posted November 11, 2016 38 minutes ago, RobertS said: Looks to only really effect very small distilleries and ones that only produce spirits for fortifying wine or beer? $50K in excise covers over 23K 80 proof bottles a year. Think that would include the majority of startups... Link to comment Share on other sites More sharing options...
bluestar Posted November 11, 2016 Share Posted November 11, 2016 1 hour ago, RobertS said: Looks to only really effect very small distilleries and ones that only produce spirits for fortifying wine or beer? True, under 3750 proof gallons, or 4650 wine gallons at 80 proof, is small. But we are still that small, many are. Link to comment Share on other sites More sharing options...
RobertS Posted November 11, 2016 Share Posted November 11, 2016 Quote The PATH Act amendments authorize a new annual excise tax return period. Beginning with the calendar quarter that starts on January 1, 2017, eligible taxpayers who reasonably expect to be liable for not more than $1,000 in taxes imposed with respect to distilled spirits, wine, and beer for the calendar year (and who were liable for not more than $1,000 in such taxes in the preceding calendar year) can pay those taxes annually, rather than quarterly. Doesn't look like this changes anything between 1k and 50k, if I'm reading right. So anyone under 460 cases per year would only file once instead of four times. Which does cover a lot of smaller startups, true. Edit: I dropped a zero somewhere and came up with 49 cases when I first calculated it. Link to comment Share on other sites More sharing options...
InsuranceMan Posted November 11, 2016 Share Posted November 11, 2016 All, I just wrote a little ditty about this called "New Bond Regulations Made Understandable", that makes this easier to understand. Just click on the title below next to the message bubble to read it. 3d0g, it has been a while, sir. I hope you are well. Link to comment Share on other sites More sharing options...
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