The U.S. Treasury Department’s Alcohol and Tobacco Tax and Trade Bureau (TTB) today issued a reminder for distilled spirits plant (DSP) proprietors of the requirement to determine taxes owed on spirits removed from their bonded premises. To do this, DSP proprietors need to “gauge” the spirits—that is, determine the quantity and proof.
Today’s TTB release includes resources and a “gauging manual” for use by DSP proprietors in proofing their spirits correctly.
For more information, contact a tax professional with KPMG’s Excise Tax Practice group:
Taylor Cortright | +1 (202) 533 6188 | email@example.com