[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR24.148]

[Page 620-621]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 
                                TREASURY
 
PART 24_WINE--Table of Contents
 
                 Subpart D_Establishment and Operations
 
Sec.  24.148  Penal sums of bonds.

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

----------------------------------------------------------------------------------------------------------------
                                                                                                Penal sum
                     Bond                                        Basis                 -------------------------
                                                                                          Minimum      Maximum
----------------------------------------------------------------------------------------------------------------
(a) Wine Bond, TTB F 5120.36..................  (1) Wine operations coverage. (i) Not        $1,000      $50,000
                                                 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.
                                                (ii) Where the liability exceeds        ...........      100,000
                                                 $250,000.

[[Page 621]]

 
                                                (2) Tax deferral coverage. Where the            500      250,000
                                                 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.
(b) Wine Vinegar Plant Bond, TTB F 5510.2.....  Not less than the tax on all wine on          1,000     100,000
                                                 hand, in transit, or unaccounted for
                                                 at any one time.
----------------------------------------------------------------------------------------------------------------
\*\ 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)

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

[T.D. TTB-64, 72 FR 65454, Nov. 21, 2007]