We all enjoy tax savings, and breweries and distilleries should be taking advantage of recent legislation that went into effect earlier this year that makes the Research and Development tax credit permanent and enhances the tax credit by not limiting the credit to Alternative Minimum Tax (AMT). Further, the legislation provides a new potential payroll tax credit offset opportunity! You can read more about the credit here or contact a member of Verrill Dana’s Breweries Distilleries and Wineries Practice Group and Tax Practice Group to discuss more.
Archives: October 2016
Late last month, Massachusetts’s Alcoholic Beverages Control Commission issued an advisory entitled “Alcoholic Beverages Control Commission (“ABCC”) Advisory to § 18 Wholesalers/Importers and § 19 Manufacturers Regarding Alcohol-Infused Ice Cream.” The Advisory notes that Massachusetts General Law chapter 138 prohibits the importation, manufacturing, and sale of ice cream that contains alcohol with one limited exception—“where the Alcohol and Tobacco Tax and Trade Bureau (“TTB”) has classified in writing that a particular product is a ‘nonbeverage product.’” The ABCC further noted that the TTB classification was “specific to each individual product a business manufactures, and not a business’s entire line of products.” The advisory is available here.
Verrill Dana’s Breweries, Wineries & Distilleries Group is excited to sponsor this year’s Brew Talks New England, part of Brewbound’s traveling series of meetup events for professionals in the brewing industry, on October 24 at Jack’s Abby in Framingham, Massachusetts. The program will offer both educational and networking opportunities for both new and veteran brewers, distributors, retailers, investors and other professionals interested in the craft beer industry.
Learn more about the event and register here. Please note, 100% of ticket proceeds will be donated to a local charity selected by the host brewery.
We hope to see you there!