The Alcohol and Tobacco Tax and Trade Bureau (TTB) of the U.S. Treasury Department today issued a reminder for wholesalers and importers of alcohol beverages of the requirement to file a new permit application within 30 days of a change of control or change in proprietorship. To provide relief for entities that may not have complied with this filing requirement, TTB is offering a temporary voluntary disclosure program through December 31, 2019.
As the TTB release explains, a “change in control” is a change in who controls the business. A “change in proprietorship” is a change in the person or entity that owns a business. With such changes, there is a requirement under U.S. law to file a new permit application with TTB within 30 days of the change.
TTB is offering a temporary voluntary disclosure program for those wholesalers and importers of alcohol beverages that have undergone a change in control or proprietorship. The temporary voluntary disclosure program provides a streamlined approach to allow eligible wholesalers and importers to voluntarily disclose the unreported changes in control or proprietorship and at the same time to file an application for a new permit. The voluntary disclosure program is available through December 31, 2019.
For more information, contact a tax professional with KPMG’s Excise Tax Practice group:
Deborah Gordon | +1 (202) 533 5965 | email@example.com
Taylor Cortright | +1 (202) 533 6188 | firstname.lastname@example.org
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