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This Tax Cut for Distilleries Just Became Permanent

This Tax Cut for Distilleries Just Became Permanent
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WineAmerica: Craft Beverage Tax Reform to be Permanent

23 December 2020 WineAmerica has long taken a leadership role in advocating for the Craft Beverage Modernization and Tax Reform Act (CBMTRA), and learned that the essential tax benefits of CBMTRA will be made permanent as part of the year-end omnibus and Covid-19 relief package announced by Congressional leadership. The CBMTRA was initially enacted in 2017 and was set to expire on December 31, 2020.  The CBMTRA reduces federal excise taxes for all American wineries. In a time of uncertainty, the new certainty that these tax rates will remain in effect will now allow the wineries to focus proactively on the challenges which lie ahead.

Relief package not nearly enough to save US on-trade

Relief package ‘not nearly enough’ to save US on-trade 23rd December, 2020 by Nicola Carruthers The US pandemic funding bill failed to provide enough support for bars and guarantees the closure of businesses, trade group the American Beverage Licensees has warned. From March 2020 to December 2020, on-trade sales of beer, wine and spirits are expected to fall by US$74bn On Monday (21 December), the US Congress passed a US$900 billion package of Covid-19 aid, which included the Craft Beverage Modernization and Tax Reform Act (CBMTRA). The tax cut for small distillers was made permanent following a one-year extension at the end of 2019.

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