A. Every manufacturer, brewer, wine and spirits wholesaler, beer distributor, nonresident seller, retailer, mixed beverage, caterer, public event and special event licensee shall keep a record of all alcoholic beverages imported, purchased, received, manufactured, produced, sold, delivered or otherwise disposed of, and the amount of all alcoholic beverages on hand, as herein provided. Such records must be kept for a period of at least three (3) years, as required by 27 C.F.R., Chapter 1, and shall include:

B. If a manufacturer, brewer, wine and spirits wholesaler, beer distributor, nonresident seller, retailer, mixed beverage, caterer, public event or special event licensee has been previously audited by the Tax Commission with an audit finding that the licensee correctly reported and kept sufficient records for audit purposes, the next subsequent audit shall be limited to records kept for one (1) year prior to the date of such audit; provided, however, if an audit finding determines that the licensee incorrectly reported or failed to keep sufficient records for audit purposes, then the audit shall not be limited by the provisions of this subsection. If any audit limited by the provisions of this subsection determines that the licensee has incorrectly reported or failed to keep sufficient records for audit purposes, then the licensee shall no longer be eligible for limited audits.