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.
Posts Tagged: Taxes
Welcome to Lawyers on Tap, a blog dedicated to keeping you up to date with the legal issues facing the craft beverage industry. As this is the first blog post, let me open by saying, hello from Verrill Dana. Our firm has been assisting those in the craft beverage industry for several decades. Over that time we have developed considerable experience dealing with the particular challenges facing the industry. In this blog we will hope to provide you with information on trends, issues, and interesting news related to the legal side of operating in this complex sector. Given that this is our first post here on the blog, it seems fitting to cover the first issue that faces every brewery, distillery, or winery, choosing a business structure. (more…)