Laws, Regulations and Annotations


Business Taxes Law Guide—Revision 2024

Alcoholic Beverage Tax Annotations

Alcoholic Beverage Tax

Regulation 2550. No deduction should be allowed for "unintentional destruction" of distilled spirits unless all requirements of Regulation 2550(a) are met, including that the exact quantity destroyed must be known, and the claimant must submit both a statement under oath and proof of loss in the form of paid insurance or carrier claims. A taxpayer who cannot meet all of the requirements of Regulation 2550(a) is limited to claiming the "unaccounted for losses" of no more than 0.1 percent of total sales of distilled spirits, as provided in Regulation 2550(b). 4/2/03.