§25.106. Application to terminate bond by existing brewer who becomes exempt from bond requirements.
27 C.F.R. § 25.106
If a brewer has held a bond and becomes exempt from bond requirements under § 24.91(e), the brewer may apply to TTB to terminate the bond. To apply, the brewer must file an amendment to the Brewer's Notice, Form 5130.10, as provided in § 25.79. The brewer must accurately state in the submission to TTB that the brewer:
Will withdraw beer for deferred payment of tax under § 25.164;
Reasonably expects to be liable for not more than $50,000 in taxes with respect to beer imposed by 26 U.S.C. 5051 and 7652 for the current calendar year (see definition of “Reasonably expects” in § 25.164(c)(4)(ii)); and
Was liable for not more than $50,000 in such taxes in the preceding calendar year.
Notes, amendments, and revision history
Amendments
[T.D TTB-146, 82 FR 1128, Jan. 4, 2017]
Authority
Authority: 19 U.S.C. 81c; 26 U.S.C. 5002, 5051-5054, 5056, 5061, 5121, 5122-5124, 5222, 5401-5403, 5411-5417, 5551, 5552, 5555, 5556, 5671, 5673, 5684, 6011, 6061, 6065, 6091, 6109, 6151, 6301, 6302, 6311, 6313, 6402, 6651, 6656, 6676, 6806, 7342, 7606, 7805; 31 U.S.C. 9301, 9303-9308.
Source
Source: T.D. ATF-224, 51 FR 7673, Mar. 5, 1986, unless otherwise noted.
Amendments
[T.D TTB-146, 82 FR 1128, Jan. 4, 2017]