Bond Amounts Change January 1, 2017
Owners of breweries, brewpubs, distilled spirits, plants and wineries that owe less than $50,000 in excise taxes in the previous year will not need to hold a TTB Surety Bond as of January 1, 2017.
Bond applications are still required for all who submit applications before that date.
The TTB has added a new data field in the application where you can state if you expect to owe less than $50,000 and be exempt from bond requirements.
If you are a new business, such as a brewery or winery, understanding the process can be challenging. The first step in the process is determining what type of business you fall under, such as:
• Alcohol Producers and Manufacturers (Distilleries, Breweries, or Wineries)
• Alcohol Importers, Wholesalers and Exporters
• Alcohol Users and Dealers
Once you determine your business type, you will need to fill out an application with the TTB and receive approval before you can begin operations. Applications can be completed online or via paper applications at the TTB’s website.
If you aren’t sure if your business will be exempt from obtaining a bond, contact the TTB and they will work with you to determine if you need to be bonded.
If it turns out that you are over $50,000 and still need a bond, SuretyGroup.com can help you keep compliant with TTB bond requirements. We write all TTB bonds in all 50 States. Give our Surety Bond Experts a call to get started.
At SuretyGroup.com, we offer low rates, fast service and expert attention to your bonding needs. Apply Online or call our Surety Bond Specialists at 1-844-432-6637.
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