Looming tax hike for craft breweries, distilleries adds to pandemic stress
Looming tax hike for craft breweries, distilleries adds to pandemic stress and last updated 2020-12-18 20:00:10-05 The CBMTRA gives craft distillers, brewers, vintners, cider producers and mead makers a tax cut provides them with extra cash to reinvest into their businesses. One of the provisions states that the CBMTRA reduces the "federal excise tax to $3.50 per barrel on the first 60,000 barrels for domestic brewers producing fewer that 2 million barrels annually," according to the Brewer's Association. Before, the federal excise tax was double the cost, at $7.00 per barrel. The CBMTRA is s...
Source: lex18.com