Section 1 Short title
This Act may be cited as the “Craft Beverage Bond Simplification Act of 2015”.
Craft Beverage Bond Simplification Act of 2015
A BILL
To amend the Internal Revenue Code of 1986 to remove bond requirements and extend filing periods for certain taxpayers with limited excise tax liability.
Sec. 2 Removal of bond requirements and extending filing periods for certain taxpayers with limited excise tax liability
Filing requirements— Paragraph (4) of section 5061(d) of the Internal Revenue Code of 1986 is amended—
in subparagraph (A)—
by striking “In the case of” and inserting the following:
“(i) More than $1,000 and not more than $50,000 in taxes—Except as provided in clause (ii), in the case of”
by striking “under bond for deferred payment”, and
by adding at the end the following new clause:
“(ii) Not more than $1,000 in taxes—In the case of any taxpayer who reasonably expects to be liable for not more than $1,000 in taxes imposed with respect to distilled spirits, wines, and beer under subparts A, C, and D and section 7652 for the calendar year and who was liable for not more than $1,000 in such taxes in the preceding calendar year, the last day for the payment of tax on withdrawals, removals, and entries (and articles brought into the United States from Puerto Rico) shall be the 14th day after the last day of the calendar year.”
in subparagraph (B)—
by striking “Subparagraph (A)” and inserting the following:
“(i) Exceeds $50,000 limit—Subparagraph (A)(i)”
by adding at the end the following new clause:
“(ii) Exceeds $1,000 limit—Subparagraph (A)(ii) shall not apply to any taxpayer for any portion of the calendar year following the first date on which the aggregate amount of tax due under subparts A, C, and D and section 7652 from such taxpayer during such calendar year exceeds $1,000, and any tax under such subparts which has not been paid on such date shall be due on the 14th day after the last day of the calendar quarter in which such date occurs.”
Bond requirements—
In general— Section 5551 of such Code is amended—
in subsection (a), by striking “No individual” and inserting “Except as provided under subsection (d), no individual”, and
by adding at the end the following new subsection:
“(d) Removal of bond requirements
“(1) In general—During any period to which subparagraph (A) of section 5061(d)(4) applies to a taxpayer (determined after application of subparagraph (B) thereof), such taxpayer shall not be required to furnish any bond covering operations or withdrawals of distilled spirits, wines, or beer.
“(2) Satisfaction of bond requirements—Any taxpayer for any period described in paragraph (1) shall be treated as if sufficient bond has been furnished for purposes of covering operations and withdrawals of distilled spirits, wines, or beer for purposes of any requirements relating to bonds under this chapter.”
Conforming amendments—
Bonds for distilled spirits plants— Section 5173(a) of such Code is amended—
in paragraph (1), by striking “No person” and inserting “Except as provided under section 5551(d), no person”, and
in paragraph (2), by striking “No distilled spirits” and inserting “Except as provided under section 5551(d), no distilled spirits”.
Bonded wine cellars— Section 5351 of such Code is amended—
by striking “Any person” and inserting the following:
“(a) In general—Any person”
by inserting “, except as provided under section 5551(d),” before “file bond”,
by striking “Such premises shall” and all that follows through the period, and
by adding at the end the following new subsection:
“(b) Definitions—For purposes of this chapter—
“(1) Bonded wine cellar—The term bonded wine cellar means any premises described in subsection (a), including any such premises established by a taxpayer described in section 5551(d).
“(2) Bonded winery—At the discretion of the Secretary, any bonded wine cellar that engages in production operations may be designated as a “bonded winery”.”
Bonds for breweries— Section 5401 of such Code is amended by adding at the end the following new subsection:
“(c) Exception from bond requirements for certain breweries—Subsection (b) shall not apply to any taxpayer for any period described in section 5551(d).”
Effective date— The amendments made by this section shall take effect on the date that is 90 days after the date of the enactment of this Act.