Time until Congress increases taxes on distillers by 400%, unless we act now!
Just last month, Texas Monthly Magazine ran a cover story about “The Great Texas Whiskey Boom” The article chronicles the past decade of growth of the Texas Whiskey industry and how our members are cultivating products and passionate advocates that rival the great whiskey producing regions of the world. Today, that “Boom” is at risk.
The Craft Beverage Modernization and Tax Reform Act EXPIRES at the end of 2019. This bill creates a fair and equitable tax structure for distillers, brewers, winemakers and importers of beverage alcohol. Distillers of all sizes are utilizing the savings gained from reduced federal excise taxes to add jobs, purchase equipment, and grow their businesses to contribute to the overall industry and their local communities.
However, if congress allows it to expire, distillers will face a 400% increase on taxes on every drop of whiskey they produce.