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Federal Excise Tax due date


mcg

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When are you required to pay the excise tax. As soon as you make the sprit or at time of shipping to wholesaler?

You pay excise tax when the bottled liquor leaves your bonded space. Otherwise it is 'in progress'. Depending on the volume project, you either file every two weeks and pay excise tax on removed spirits or for really low volume distilleries, I've seen the TTB let them do Quarterly reports and payments.

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You pay excise tax when the bottled liquor leaves your bonded space. Otherwise it is 'in progress'. Depending on the volume project, you either file every two weeks and pay excise tax on removed spirits or for really low volume distilleries, I've seen the TTB let them do Quarterly reports and payments.

You also must have enough bond coverage for the possible tax liability at any given time.

Keith

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you can either pay once it leaves the bonded premises OR you can include withdrawal coverage on your federal bond and allow for spirits to be removed and you do not have to pay the tax until you file (either quarterly or monthly depending on how much you're making). I would highly recommend withdrawal coverage.

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Good. Questions like these are all good qualifiers for attending the ADI Conference or the TTB Expo. The TTB attends the ADI to offer a seminar relative to startups and to be there for all of us.

I am glad they are there. (I hope they have someone monitor this site :rolleyes: )

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