CBMA Reintroduced in the Senate

Last week Senators Ron Wyden and Roy Blunt reintroduced the Craft Beverage Modernization Act (CBMA) in the US Senate, with the aim to extend the tax legislation or even make it permanent.

The CBMA, which was passed at the end of 2017 had an original expiration date set for the end of 2019. However, supporters of the bill from the wine, beer, and spirits trade groups such as the Wine Institute, Distilled Spirits Council, and American Craft Spirits Association are pushing to keep the new low tax rates in place.

WineAmerica president Jim Trezise even states, "The Craft Beverage Modernization and Tax Reform Act enhanced our industry's ability to contribute even more by channeling tax savings into purchases of new equipment, additional employees, increased wages, expanded distribution, and facility enlargements. We are deeply grateful for the original legislation, and respectfully urge that it be made permanent."

We will keep you informed of this renewed legislation as it progresses.

Additionally, if you are looking for assistance in obtaining your CBMA tax refunds for 2018 or 2019, WSSA can help! Contact us to find out a list of our services surrounding the CBMA tax credits, or to set up a consultation call.