{"data":{"id":"us/27-cfr-24.160","jurisdiction":"us","citation":"27 CFR 24.160","heading":"Application to terminate bond by existing proprietor who becomes exempt from bond requirements.","body":"If a proprietor has held a bond or bonds covering operations or withdrawals of wine for nonindustrial use and becomes exempt from those bond requirements as provided under § 24.146(d), the proprietor may apply to TTB to terminate the bond or bonds covering such operations or withdrawals. To apply, the proprietor must file an amended application as provided in § 24.132. The proprietor must accurately state in the submission that the proprietor:\n(a) Will withdraw wine for deferred payment of tax under § 24.271;\n(b) Reasonably expects to be liable for not more than $50,000 in taxes with respect to wine imposed by 26 U.S.C. 5041 and 7652 for the current calendar year (see definition of “Reasonably expects” in § 24.271(b)(1)(iv)(B)); and\n(c) Was liable for not more than $50,000 in such taxes in the preceding calendar year.","path":["Title 27—Alcohol, Tobacco Products and Firearms","CHAPTER I—ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY","SUBCHAPTER A—ALCOHOL","PART 24—WINE","Subpart D—Establishment and Operations"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-27.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:11Z","sha256":"37158ba39a0729f6c7cb2f9850d46b0e4a4cce95b6d3ed945b21676428cdd849","source_id":"us-cfr","stale":true,"prev":"us/27-cfr-24.159","next":"us/27-cfr-24.165"},"notice":"GroundRules: Original legal text. Not legal advice."}