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Tax Reform Breweries

McDermott Will & Emery

The Tax Implications of Purchasing Craft Producers in the First Half of a Year

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If a large beverage company is considering purchasing or selling a craft beverage producer, it’s essential to understand how the craft producer may lose its earlier eligibility for reduced tax rates under the Craft Beverage...more

Brooks Pierce

North Carolina Legislative Update - May 2019 #4

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Senate appropriators worked on the budget bill behind closed doors this week and both houses considered a variety of bills prior to leaving for the Memorial Day holiday. Budget Bill (H966) - After passing the House on...more

Brooks Pierce

North Carolina Legislative Update - May 2019 #3

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After two busy weeks culminating in the May 9 bill crossover deadline, Legislators returned this week at a steadier pace. Senate Tax Reform (S622) - The Senate began moving its 2019 tax bill and tentatively approved it...more

Holland & Hart LLP

Utah Legislative Update: Session Review

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The Utah Legislature adjourned at 11 p.m. on March 14th – a full hour before their hard stop midnight deadline. The Legislature passed a record 574 bills this year, which is a bit of a surprise when several weighty issues...more

McDermott Will & Emery

TTB Issues Guidance on Transfers of Beer between Breweries of Different Ownership

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Last week, the Alcohol and Tobacco Tax and Trade Bureau (TTB) published a TTB Procedure governing the transfer in bond of beer between breweries of different ownership. See TTB Procedure 2018-1 (July 17, 2018). In bond...more

Verrill

Lawyers on Tap: Tap Tips for Entity Formation and Taxation

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In this episode of Verrill Voices: Lawyers on Tap, Verrill Dana attorneys Jennifer Green and Jonathan Dunitz discuss the importance of entity formation to the overall success of a brewery business, and the differences between...more

McDermott Will & Emery

TTB Publishes Additional Tax Act Guidance on 5010 Wine and Flavor Credits

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On March 23, 2018, TTB published additional Tax Act guidance on its website. Three new clarifications address the interaction of the new Tax Act rates/credits with the wine and flavor credits available under 26 U.S.C. § 5010....more

McDermott Will & Emery

2018 Federal Budget Legislation Provides Breweries with Administrative Relief and Acknowledges 21st Amendment

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Two sections of Craft Beverage Modernization and Tax Reform Act (CBMTRA) that were dropped from the 2017 federal tax reform law were subsequently added to the Bipartisan Budget Act of 2018, signed into law by President Trump...more

Sherman & Howard L.L.C.

TTB Gives Initial Guidance on Excise Tax Cuts

The Alcohol and Tobacco Tax and Trade Bureau (TTB) has set up a Craft Beverage Modernization and Tax Reform website to provide industry members more information on how the TTB will implement portions of the Tax Cuts and Jobs...more

Burr & Forman

Toasting Tax Reform’s Impact on Brewers, Vintners, Distillers and Distributors

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In addition to the more publicized portions of the recent tax legislation, certain provisions also positively impact your favorite local craft brew, regional small batch wine or even a locally distilled alcoholic beverage....more

Bradley Arant Boult Cummings LLP

Congress Overhauls Excise Taxes for Alcohol Producers

Brewers, vintners and distillers across the country raised their glasses as Congress passed the Tax Cuts and Jobs Act and, with it, the Craft Beverage Modernization and Tax Reform Act of 2017. The Craft Beverage Tax Reform...more

Ward and Smith, P.A.

Cheers! Brewers Will Have Reason to Toast if Proposed Tax Changes Become Law

Ward and Smith, P.A. on

Much press has been given to recent efforts in Congress to reform the federal tax code. The House and the Senate have each proposed their own bills to amend the tax laws, and congressional leaders are fervently trying to...more

McDermott Will & Emery

“Chairman’s Mark” Includes CBMTRA Provisions to the Tax Cuts and Jobs Act

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America’s brewers, distillers and wineries cannot yet raise a glass to recalibrated federal excise taxes, but they got one step closer to be able to do that on Tuesday. That is because the provisions of the Craft Beverage...more

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