Here we are already half way through 2018- which I recently described as a very unique year for TTB compliance. The other terms I’d considered before settling on unique were confusing and frustrating. This confusion, frustration and overall uniqueness are all as a result of the tax laws which went into effect on January 1st of 2018. US wineries have been directly impacted by the section of the new tax law which affect how they now must file and qualify for credits on their TTB excise taxes.
I’ve already been sharing information about all these changes as I continue to come into full understanding. In an earlier video post I shared some incomplete information specific to wineries receiving in bulk wine, and that received wine not qualifying for tax credits. Per information listed on the TTB’s Craft Beverage Modernization & Tax Reform page as well as direct follow up with TTB staff that information was not correct.
There are specific types of “produced by..” wine activities which if performed and documented correctly will qualify for tax credit even if they involve the use of purchased bulk wine.
More explanation of these TTB “produced by” types are in my next video.