From the Craft Beverage Modernization and Reform Act a good savings for US importers

From the Craft Beverage Modernization and Reform Act a good savings for US importers

Unknown to many, at least in Europe, it is still exploited by a few, but The Craft Beverage Modernization and Reform Act, which took effect in the United States, albeit temporarily, in 2018, is a reform that significantly lowered federal tax duties for producers of beer, wine, and spirits, but also for importers, through a tax credit system Scaled for wine produced or imported in the United States, which gives a $1 per gallon credit for the first 30,000 gallons of wine, $0.90 for the next 100,000 gallons and $0.535 for the next 620,000 gallons. Designed to make small businesses (producers and importers) more competitive, through a reduction indirectly proportional to the quantities, the Artisan Beverage Modernization and Reform Act will finally enter into force (making the tax exemption permanent), also thanks to pressures from the industry Wine in the United States, effective January 1, 2023. The system will not be managed by customs, but by the US Alcohol and Tobacco Tax Office (TTB), to which producers and importers will have to refer: Once the bureaucracy is removed, they can guarantee savings of up to $36,000 per container imported into the United States, which would also represent a breath of fresh air for producers.

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