27 C.F.R. § 24.148

Current through September 30, 2024
Section 24.148 - Penal sums of bonds

The penal sums of bonds prescribed in this part are as follows:

BondBasisPenal sum
MinimumMaximum
(a) Wine Bond, TTB F 5120.36(1) Wine operations coverage. (i) Not less than the tax on all wine or spirits possessed, in transit, or unaccounted for at any one time, taking into account the appropriate small producer wine tax credit$1,000$50,000
(ii) Where the liability exceeds $250,000100,000
(2) Tax deferral coverage. Where the unpaid tax amounts to more than $500, not less than the amount of tax which, at any one time, has been determined but not paid. Exception: $1,000 of the wine operations coverage may be allocated to cover the amount of tax which, at any one time, has been determined but not paid, if the total operations coverage is $2,000 or more500250,000
(b) Wine Vinegar Plant Bond, TTB F 5510.2Not less than the tax on all wine on hand, in transit, or unaccounted for at any one time1,000100,000

* The proprietor of bonded wine premises who operates an adjacent or contiguous wine vinegar plant with a wine bond that does not cover the operation may file a consent of surety to extend the terms of the wine bond in lieu of filing a wine vinegar plant bond.

27 C.F.R. §24.148

26 U.S.C. 5354 , 5362

T.D. TTB-64, 72 FR 65454, 11/21/2007

Approved by the Office of Management and Budget under control number 1513-0009