Wine Spectator: Small Wineries Hoping For Tax Cuts Face Massive Tax Hikes InsteadMay 15, 2018
“They say you shouldn’t look a gift horse in the mouth, but this horse came with a pretty mean kick,” said Mike Officer, co-owner of Carlisle winery in Sonoma.Like many small-winery winemakers, he expected that last year’s tax-cuts package would deliver tax cuts. The law included significant federal excise tax reductions on alcohol for both small and large wineries.
But language in the bill complicated matters: Many small wineries are now facing sizable tax increases. That’s left winemakers and their advocates appealing to Congress and the Alcohol and Tobacco Tax and Trade Bureau (TTB), the federal agency in charge of alcohol regulation, hoping a solution can be found before a June 30 deadline. Wine Spectator has the full story.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.