This was a year of challenges that significantly hurt the brewery industry. Breweries tried different tactics to stay afloat, including relying heavily upon grants and loans. One year later, we are in a land of acronyms that have helped in the economic recovery of the industry, such as PPP (Paycheck Protection Program), ERTC (Employee Retention […]
New York State is home to 447+ craft breweries. And you want to be number 448. No sweat right? But how many of these breweries will be around in year two? Contrary to common belief running a brewery isn’t as easy as growing a sick brewer’s beard. There’s a number of variables that could lead […]
The Craft Beverage Modernization and Tax Reform Act (CBMTRA) of 2017 gave the craft brewing industry a lift by temporarily lowering the federal excise tax for breweries, wineries, and distilled spirit producers. The act took effect on January 1, 2018, and is currently set to expire on December 31, 2019. But on February 6, U.S. […]
Live Oak Bank is committed to providing free educational content for NYSBA members. In the free tax webinar the recent changes to the Tax Reform Act and tax incentives for brewery owners are discussed. The webinar is on demand. You can listen any time and submit questions. The recent changes to the U.S. tax code have provided […]