Code of Federal Regulations · Section
§ 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:
(a) Will withdraw beer for deferred payment of tax under § 25.164;
(b) 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
(c) Was liable for not more than $50,000 in such taxes in the preceding calendar year.
Authorizing Statute
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Definitions26 U.S.C. § 5002
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Definitions31 U.S.C. § 9301
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Imposition and rate of tax26 U.S.C. § 5051