Tax cut for distillers to be made permanent
21st December, 2020 by Owen Bellwood
The Craft Beverage Modernization and Tax Reform Act will be made permanent after Congress included the duty cut in its year-end funding legislation package to help businesses recover from the pandemic.
The US committee on finance has extended the Craft Beverage Modernization & Tax Reform Act
Senate finance committee ranking member Ron Wyden, who sponsored the bill’s reading in Congress, said in a statement yesterday (20 December) that the Craft Beverage Modernization and Tax Reform Act (CMTRA) for distillers will be made permanent. The move comes 12 months after the tax cut gained a one-year extension and was due to expire on 31 December 2020.