[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]