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An Extended or Permanent FET Reduction to Come

The Federal Excise Tax Reduction was reintroduced and is now being considered to become permanent, or at least extended. This reduction includes a tax rate drop for distillers, wineries, and brewers. The Craft Beverage Modernization and Tax Reform Act allowed for there to be an ability to purchase new equipment, add on additional employees, increase wages, expand distribution and facility enlargements, all due to tax saving. There is certainly a positive effect all over the country, which is exactly why a permanent relief would be critical for the industry.

Source: Wine & Spirits Daily, February 2019