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Maine brewers stand to save about $1 million from less tax per barrel
Portland Press Herald ^ | 1/9/2018 | James Patrick

Posted on 01/09/2018 5:38:38 PM PST by Steven Scharf

Maine brewers stand to save about $1 million from less tax per barrel

Part of the federal tax reforms passed last year were significant cuts to the excise tax imposed on craft brewers.

Tucked inside the recently passed federal tax overhaul was a very specific tax cut that could cumulatively save Maine breweries about $1 million this year.

The Craft Beverage Modernization and Tax Reform Act was passed at the end of 2017 along with tax reforms that lowered both personal and corporate tax rates. The act includes a two-year cut on the federal tax levied on a barrel of beer from $7 per barrel to $3.50 for the first 60,000 barrels brewed. The tax is $16 per barrel after 60,000 barrels, a drop from $18 per barrel.

The size of the savings is directly proportional to the size of the brewery, leading larger brewers to consider infrastructure or research improvements, while smaller brewers say the windfall could mean nothing more than a holiday party for employees.

Two of Maine’s largest breweries, Allagash and Shipyard, figure to save more than $200,000 in excise taxes in 2018. But Saco’s Barreled Souls – which made 239 barrels of beer in 2016 – won’t see much of a boon, co-founder Matthew Mills said.

“I really don’t see it as having much of an impact on anything,” Mills said. “It won’t really enable us to do anything. It’s not like it’s a staff person or will affect our ability to grow. … At the end of the year, maybe we buy a new piece of equipment that we wouldn’t have otherwise, or we take our staff out for a night.”

(Excerpt) Read more at pressherald.com ...


TOPICS: Government; US: Maine
KEYWORDS: beer; taxes; winning
More winning. Of course the comments in this progressive city paper of record talk about the evil rich brewers who will benefit from this.

Portland Maine and the surrounding area have several craft breweries and has become a beer tourist city. There are brew tours and tasting rooms to partake in. If you love beer make the trip.

1 posted on 01/09/2018 5:38:39 PM PST by Steven Scharf
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To: Steven Scharf

I was bummed they didn’t extend the medical device excise tax moratorium.

But, hey, silver lining!!


2 posted on 01/09/2018 5:40:39 PM PST by joshua c (To disrupt the system, we must disrupt our lives)
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To: Steven Scharf

Mathew Mills is apparently an Obamaite.


3 posted on 01/09/2018 5:43:09 PM PST by arrogantsob (Check out "Chaos and Mayhem" at Amazon.com)
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To: Steven Scharf
NYS is full of evil brewers....between wines and beers....The Big Apple...is now the Big .....

How did it happen?? Men quickly learned to buy women drinks...

4 posted on 01/09/2018 5:43:19 PM PST by Sacajaweau
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To: Steven Scharf

I like Shipyard


5 posted on 01/09/2018 5:51:40 PM PST by mylife ( The roar of the masses could be farts)
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To: Steven Scharf

Making beer cheaper is truly #MAGA


6 posted on 01/09/2018 6:07:55 PM PST by gubamyster
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To: arrogantsob

$836 isn’t much, but it’s still enough for some cleaning supplies, or yeast, or malted grain.

Re-invest it in the company and perhaps you can sell more product, if you make a decent beer, Mr. Mills. Then you can pay more of those taxes you seem to love.

There’s no pleasing some folks, is there?


7 posted on 01/09/2018 6:18:24 PM PST by Don W (When blacks riot, neighbourhoods and cities burn. When whites riot, nations and continents burn.)
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To: Don W

$836 isn’t much
= = = = = = =
If he REALLY cared, he would return the 836 and add 836 or whatever HE thinks the tax should be.

He belongs to the crowd that says the reason PRESIDENT Donald Trump didn’t accept a salary for President is he doesn’t want to pay the Tax on it and/or show us his records.

‘They’ sure got it right when they declared some people gripe if hung with a new rope.


8 posted on 01/09/2018 6:24:05 PM PST by xrmusn ((6/98)""In todays world:::WE, THE USofA are Rudyard Kiplings 'Tommy'")
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To: arrogantsob

“Mathew Mills is apparently an Obamaite”

It’s Maine, so very good odds he is. Not enough data about his business to be certain, but my to cents is his product isn’t very good or he is a bad businessman. 236 barrels of beer is nothing.

Or he is a happy being mediocre and pointing fingers at others for so his situation. Typical liberal.


9 posted on 01/09/2018 6:51:00 PM PST by DAC21
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