27 CFR 24.148 - Penal sums of bonds.

Regulations last checked for updates: Oct 18, 2024

Title 27 - Alcohol, Tobacco Products and Firearms last revised: Oct 16, 2024

View all text of Subpart D [§ 24.100 - § 24.160]

§ 24.148 - Penal sums of bonds.

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

Bond	Basis	Penal sum
Bond	Basis	Minimum	Maximum
(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 $250,000		100,000
	(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 more	500	250,000
(b) Wine Vinegar Plant Bond, TTB F 5510.2	Not less than the tax on all wine on hand, in transit, or unaccounted for at any one time	1,000	100,000

* 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.

(26 U.S.C. 5354,5362.D. TTB-64, 72 FR 65454, Nov. 21, 2007]

authority: 5 U.S.C. 552(a); 26 U.S.C. 5001,5008,5041,5042,5044,5061,5062,5121,5122,5173,5206,5214,5215,5351,5353,5354,5356,5357,5361,5362,5364,5381,5391,5392,5511,5551,5552,5661,5662,5684,6065,6091,6109,6301,6302,6311,6651,6676,7302,7342,7502,7503,7606,7805,7851; 31 U.S.C. 9301,9303,9304,9306

source: T.D. ATF-299, 55 FR 24989, June 19, 1990, unless otherwise noted.

cite as: 27 CFR 24.148