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CRAFT BREWERIES & POSS TAX INCREASE - Ron DiLalla - Realtor -

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Real Estate Agent with Century 21 Discovery DRE 01813824

Brewers have endured their share of economic woes brought on by the coronavirus pandemic, closing taprooms and seeing keg sales drop considerably. But as the year winds down another challenge looms: Whether the Craft Beverage Modernization and Tax Reform Act -- and its lower excise taxes on beer -- will be continued.

The act and the lower tax rate expires Dec. 31. A higher tax hike is set to kick in Jan. 1, according to the Colorado-based Brewers Association, which represents 8,300 small and independent craft breweries, and the Beer Institute, a Washington, D.C.-based national trade association for the industry. They are seeking an extension of the current federal excise tax rate, and this week held a press conference with industry representatives who delivered a clear message: Maintaining the current tax rate is imperative for their industry’s survival.

 

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