12 U.S. SENATORS INTRODUCE BILL TO REDUCE TAX ON CRAFT DISTILLERS
BREAKING NEWS FROM THE AMERICAN CRAFT SPIRITS ASSOCIATION:
12 U.S. SENATORS INTRODUCE BILL TO REDUCE FET FOR CRAFT DISTILLERS
On January 30, 2017, Senator Ron Wyden (D-OR) and Senator Roy Blunt (R-MO) introduced S. 236, legislation to reduce the Federal Excise Tax (FET) for craft distillers from $13.50 to $2.70 on the first 100,000 proof gallons. Ten other Senators joined them on the first day of introduction. The legislation would also provide a FET rate of $13.34 per proof gallon for the next 22,130,000 proof gallons of distilled spirits. Additionally, the bill would allow distillers to transfer spirits in approved containers smaller than one gallon in bond without payment of tax, similar to wine and beer.
“This is a major step forward in tax parity for the craft distilling industry” said Margie A.S. Lehrman, Executive Director of the American Craft Spirits Association (ACSA). “The U.S. Senate recognizes our fast growing industry and the impact we are having on main street job growth, tourism, manufacturing, and agriculture. The fact that this is one of the first bills to be introduced in the new Congress is a major step forward for our industry and recognition of the efforts ACSA members have made over the past several years in highlighting the need for this bill. We hope that this legislation can be enacted in 2017 so that we can bring tax and regulatory relief to our small businesses as soon as possible.”
Lyon Distilling Company is a proud member of the ACSA and supports this legislation.