The number one problem importers and distilled spirits plants face is with record keeping; inventory; reporting and changes to your DSP after your permit has been issued. Our company provides you peace of mind as we provide a comprehensive compliance program for your business which includes an audit, employee training and expert guidance. We offer unlimited consulting and compliance services for a single monthly payment or a one times yearly fee.
Distillery Regulatory Compliance
Once your Federal TTB Disilltery (DSP) permit is issued you now have required month report to submit. You may also have state reporting. If production, processing and storage reporting doesn't excite you, leave it to us to train your team and make sure your reporting are accurate. No over reporting or under reporting.
Along with your operational reports you will have TTB and state Excise tax reporting and payments due. It is all too coming for over reporting and under reporting. We can save you money and headache bu making sure your excise taxes are complete and accurate the first time.
Three years. That is the number of years TTB requires you to keep all records relating to your DSP. from operational reports to tax payment forms, batch records, invoices, receipts and entity information. These are only a few of the records that TTB requires you to keep. We make sure you are keeping the proper records
If Federal TTB compliance was not daunting enough. You will also have to contend with state and local regulations. If you are not prepared your entire operation may be at risk. Contact the Distillery Compliance Team for a Business plan review, including zoning and other jurisdictional issues.
Audits & Inspections
We offer comprehensive Distilled Spirits Plant Audit Services, meticulously designed to ensure your operation not only meets but exceeds industry standards, particularly in the realms of excise tax compliance, tax classes, and adherence to production standards for reduced tax rates.
Excise Tax Compliance: Navigating the complexities of distilled spirits excise tax can be daunting. Our expert team conducts thorough audits of your excise tax processes, ensuring accurate calculation, reporting, and payment. We delve into the details of your production, storage, and sales records to identify any potential issues or areas for optimization. Our goal is to safeguard your distillery against any tax-related discrepancies and to ensure full compliance with federal and state regulations, thereby avoiding costly penalties and ensuring financial integrity.
Tax Rate Management: In the distilled spirits industry, tax rates vary significantly based on the proof of the spirit and eligibility for the small producer tax credit. Our audit services include a thorough examination of your product line to ensure accurate classification based on proof, ensuring compliance with the appropriate tax rate for each spirit. This detailed analysis is crucial in optimizing your tax obligations, as different proofs result in different tax rates. Additionally, we provide specialized guidance on qualifying and applying for the small producer tax credit, a significant financial advantage for eligible distilleries. Our expertise in these areas not only ensures compliance but also strategically positions your business to take full advantage of available tax benefits, directly impacting your profitability and overall business strategy.
Production Standards for Reduced Tax Rate: The Craft Beverage Modernization and Tax Reform Act has provided opportunities for reduced tax rates for small producers, but leveraging these benefits requires strict adherence to certain production standards. Our audit services include a comprehensive review of your production processes to ensure you qualify for these reduced rates. We assess your production volume, equipment, and techniques to certify that they align with the stipulations for reduced tax rates. Our team offers recommendations and strategies to maintain or achieve compliance with these standards, ultimately leading to significant cost savings.
Our Distilled Spirits Plant Audit Services are designed to provide peace of mind and financial benefits. By partnering with us, you gain the assurance that your distillery operates within legal boundaries and capitalizes on available financial advantages, all while maintaining the highest standards of compliance and operational excellence.