Author Topic: So you want to be a brewer  (Read 14729 times)

Offline Thirsty_Monk

  • Senior Brewmaster
  • ******
  • Posts: 1842
  • Eau Claire WI
    • View Profile
Re: So you want to be a brewer
« Reply #135 on: October 08, 2013, 06:23:01 AM »
Hey Leos,

Actually, the TTB passed a temporary rule at the end of 2012 (which is still in effect), that reduces the bond amount for small brewers to $1,000 so long as the small brewer pays less than $50k in excise taxes in a given year.  Because the federal excise tax rate is $7 on the first 60k barrels, that $50k in taxes is equal to producing approximately 7,142 barrels per year.  We are estimating that we will produce fewer than 7,142 barrels per year for the first several years, so our initial bond rate should be $1,000.
See I should have you on retainer for any advice.
Thank you for the info.
I was starting to worry that I will have to Increase the bond to $2000.
Na Zdravie

On Tap At The TapRoom:
Bohemian Pilsner
Bohemian Dark Lager
Smoked Bock
MaiBock
American Brown Ale
Marzen
Root beer

Offline Pawtucket Patriot

  • Senior Brewmaster
  • ******
  • Posts: 1353
  • Rebelling against cheap swill since 2005
    • View Profile
    • Bauhaus Brew Labs
Re: So you want to be a brewer
« Reply #136 on: October 08, 2013, 06:46:30 AM »
Hey Leos,

Actually, the TTB passed a temporary rule at the end of 2012 (which is still in effect), that reduces the bond amount for small brewers to $1,000 so long as the small brewer pays less than $50k in excise taxes in a given year.  Because the federal excise tax rate is $7 on the first 60k barrels, that $50k in taxes is equal to producing approximately 7,142 barrels per year.  We are estimating that we will produce fewer than 7,142 barrels per year for the first several years, so our initial bond rate should be $1,000.
See I should have you on retainer for any advice.
Thank you for the info.
I was starting to worry that I will have to Increase the bond to $2000.

 ;D  No problem!
Matt Schwandt | Minneapolis, MN
AHA Member

Partial-Mash Pictorial
All-Grain Pictorial

Offline boulderbrewer

  • Brewmaster
  • *****
  • Posts: 689
    • View Profile
Re: So you want to be a brewer
« Reply #137 on: October 08, 2013, 06:55:28 AM »
Hey Leos,

Actually, the TTB passed a temporary rule at the end of 2012 (which is still in effect), that reduces the bond amount for small brewers to $1,000 so long as the small brewer pays less than $50k in excise taxes in a given year.  Because the federal excise tax rate is $7 on the first 60k barrels, that $50k in taxes is equal to producing approximately 7,142 barrels per year.  We are estimating that we will produce fewer than 7,142 barrels per year for the first several years, so our initial bond rate should be $1,000.
See I should have you on retainer for any advice.
Thank you for the info.
I was starting to worry that I will have to Increase the bond to $2000.

 ;D  No problem!

This was a temporary rule? I thought is was that way always. Never the less I appreciated the rule.
Tribute Brewing

Offline bluesman

  • Global Moderator
  • I must live here
  • *****
  • Posts: 8678
  • Delaware
    • View Profile
Re: So you want to be a brewer
« Reply #138 on: October 08, 2013, 09:25:27 AM »
Hey Leos,

Actually, the TTB passed a temporary rule at the end of 2012 (which is still in effect), that reduces the bond amount for small brewers to $1,000 so long as the small brewer pays less than $50k in excise taxes in a given year.  Because the federal excise tax rate is $7 on the first 60k barrels, that $50k in taxes is equal to producing approximately 7,142 barrels per year.  We are estimating that we will produce fewer than 7,142 barrels per year for the first several years, so our initial bond rate should be $1,000.
See I should have you on retainer for any advice.
Thank you for the info.
I was starting to worry that I will have to Increase the bond to $2000.

+1

I wasn't aware of this rule either. :)
Ron Price

Offline Pawtucket Patriot

  • Senior Brewmaster
  • ******
  • Posts: 1353
  • Rebelling against cheap swill since 2005
    • View Profile
    • Bauhaus Brew Labs
Re: So you want to be a brewer
« Reply #139 on: October 08, 2013, 09:33:34 AM »
Hey Leos,

Actually, the TTB passed a temporary rule at the end of 2012 (which is still in effect), that reduces the bond amount for small brewers to $1,000 so long as the small brewer pays less than $50k in excise taxes in a given year.  Because the federal excise tax rate is $7 on the first 60k barrels, that $50k in taxes is equal to producing approximately 7,142 barrels per year.  We are estimating that we will produce fewer than 7,142 barrels per year for the first several years, so our initial bond rate should be $1,000.
See I should have you on retainer for any advice.
Thank you for the info.
I was starting to worry that I will have to Increase the bond to $2000.

 ;D  No problem!

This was a temporary rule? I thought is was that way always. Never the less I appreciated the rule.

Yep.  It's a temporary rule that is in effect for a period of three years.  Hopefully, they'll make it permanent after the three-year period lapses.

http://www.gpo.gov/fdsys/pkg/FR-2012-12-07/pdf/2012-29488.pdf
Matt Schwandt | Minneapolis, MN
AHA Member

Partial-Mash Pictorial
All-Grain Pictorial