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TTB NEWSLETTER | Weekly News

June 28, 2018 -

Special Edition


IN THIS ISSUE

Greetings! This special edition of the TTB Newsletter announces the availability of new Craft Beverage Modernization and Tax Reform Act information related to imported alcohol beverages, 5010 tax credits, and standard effective tax rates.

TTB UPDATES FAQ RELATED TO IMPORTED ALCOHOL BEVERAGES

On June 27, 2018, we updated the answer to FAQ TR-G4: "How can I take the new reduced excise tax rates or tax credits on imported products?" to indicate that U.S. Customs and Border Protection (CBP) has issued guidance for importers on their Web site.

View CBP guidance CSMS #18-000403 - Implementing the Craft Beverage Modernization and Tax Reform Act of 2017.

TTB ISSUES INDUSTRY CIRCULAR ON CALCULATING EFFECTIVE TAX RATES FOR CERTAIN DOMESTIC AND IMPORTED DISTILLED SPIRITS

On June 27, 2018, we issued Industry Circular 2018-4, which provides guidance to distilled spirits plants and importers on calculating effective tax rates under 26 U.S.C. 5010 for distilled spirits products that contain eligible wine and eligible flavors and that are subject to reduced tax rates under the Tax Cuts and Jobs Act of 2017 (the Act).

Industry Circular 2018-4, Calculating Effective Tax Rates for Distilled Spirits Products Containing Eligible Wine and Eligible Flavors, and Obtaining Approval of Standard Effective Tax Rates for Imported Distilled Spirits Products

Visit our Craft Beverage Modernization and Tax Reform page to view this and other guidance.

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