Death and Taxes…and Beer
It is interesting to see craft beer grow into an industry as large as it has become. With this growth, invariably, comes matters of propositions, legislation, and taxes. Currently, Florida is trying to legalize the sale of 64oz growlers. Maryland just legalized on premise beer sales and consumption for breweries.
Taxes have a bit of a mixed reputation in this country, to put it lightly. With regards to the beer industry, this is no different. Currently, the Brewers Association is pushing to enact the Small BREW Act through congress. This act is seeking to amend the tax code to lower the rates of excise taxes brewers pay. Well, specifically the first 2 million barrels produced by a brewery making less than 6 million barrels of beer a year.
The craft beer industry is one of the fastest growing industries in America, and for the breweries making less than 60,000 barrels a year, the new proposition would cut their taxes in half. Considering the massive growth the industry has seen, and considering the continuation of this growth, these tax cuts would allow for continued growth, investment, and jobs being added to the economy. (more…)