Ready-to-drink beverages, often abbreviated as RTDs, have become quite popular among folks looking for convenient, pre-mixed alcoholic cocktails. These beverages come in cans and are ready for consumption right out of the fridge. However, behind the convenience lies a tangled web of taxation complexities, especially when it comes to excise taxes. Firstly, let’s understand what RTDs are. These beverages...
Continue ReadingWinding up a business, especially in the world of alcohol manufacturing, involves a detailed process divided into three main parts: regulatory requirements, handling creditors’ claims, and managing assets. Here’s a breakdown of what each of these involves: Regulatory Requirements: For alcohol manufacturers, meeting regulatory demands is a crucial step in winding up operations. This primarily revolves around dealing with...
Continue ReadingThe end of the federal Craft Beverage Modernization and Tax Reform Act (CBMTRA) on December 31, 2020 would mean big excise tax increases for small manufacturers. What is the CBMTRA and Where is It Going? The CBMTRA was passed along with the Tax Cuts and Jobs Act of 2017. The federal law made changes to the US Tax Code...
Continue ReadingThe 2020 Session of the Florida Legislature ended without passing major changes to the Florida Beverage Law, but a change to the state’s tax laws provides a excise tax credit for contributions to child-welfare charities.
Continue ReadingBeginning January 1, 2017, the federal bond and tax reporting requirements for some breweries, wineries, and distilleries will get a little easier.
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