Florida Distillery Tax Cut Fate Hangs In Hands of D.C. PUBLISHED 6:54 PM ET Dec. 21, 2020 PUBLISHED 6:54 PM EST Dec. 21, 2020
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ORLANDO, Fla. The future for distillers across the sunshine state currently hangs in the balance in Washington, D.C.
What You Need To Know
A federal excise tax cut is set to expire at the end of the year
The expiration could mean a 400% tax increase for craft distillers
The provision is part of the COVID-19 relief bill being reviewed in D.C.
If lawmakers don’t act, a federal excise tax cut, enacted under the Trump administration, will expire at the end of the year. That amounts to a 400% tax increase for craft distillers.