Ok, so who has a headache?  Today was the deadline for the TTB reports and excise tax and I’m sure lot’s of winery folks were entrenched in the WTF?-mode, trying to figure out the correct numbers for the report.  Now if you don’t want to go through that same experience again anytime soon, listen up.  Here is a little trick that I learned from a TTB agent to simplify the process.  TAX PAY YOUR WINE AS IT IS BOTTLED.

By law, the TTB requires that wine is tax paid as it is removed from bond.  Ideally, your tasting room is where all the tax paid wine is stored and you are keeping track of that wine when it is moved from the warehouse.  But we all know the reality.  Tasting room staff are busy, running around just trying to deal with all the customers and compliance is the last thing on their mind. Wine gets moved into the tasting room and not posted on the transfer list.  So that “Part B” on the report becomes NO FUN.  However, if you tax pay your wine as it is bottled then the “Part B” is a breeze.  Just keep your bottling records handy and plug those numbers into your tax paid removals.  Your ending inventory will be zero.  So on the next report your starting inventory will be zero.  The only number you will need is the gallons bottled.  And Bam!  You are done.

The only caveat is that the first time you report this way, you will have to tax pay on all the wine that is already in your warehouse.  That’s right ALL of it.  That could cost you, so be sure to do it when your bottled inventory is at it’s lowest.

Questions?  Contact us… e-mail is best.   cws@clearwinerysolutions.com