House Bill to Lower Proof Gallon Tax (FET).

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House Bill to Lower Proof Gallon Tax (FET).

Postby MoonBreath » Tue Dec 05, 2017 2:31 pm

Senate passes HR 1, which includes reducing FET for craft distillers from $13.50 to $2.70 for the first 100,000 proof gallons..If passed by both Senate and Congress, it would begin January 1, 2018 ..Authorized for just 2yrs ending December 31, 2019..To be permanent, would have to be returned to Congress.
Lots of relief coming hopefully.
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Re: House Bill to Lower Proof Gallon Tax (FET).

Postby DAD300 » Wed Dec 06, 2017 3:59 pm

This doesn't sound like a lot, but to a small craft distillery it's the dif between ~$2.70 in FET or $0.54 a bottle. $2.16 per bottle direct to bottom line is a lot. 100 bottles a day five days a week? $216 a day, $1,000 a week, $50,000 a year more profit.
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Re: House Bill to Lower Proof Gallon Tax (FET).

Postby Twisted Brick » Wed Dec 06, 2017 4:35 pm

I have read that in America, one new craft distillery opens up every day, and this most certainly recognizes the mass and inertia that the craft spirit industry has created.

List of Senators sponsoring S.236
https://www.congress.gov/bill/115th-con ... astToFirst
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Re: House Bill to Lower Proof Gallon Tax (FET).

Postby Fraser » Wed Dec 20, 2017 8:13 am

I'm very happy about this particular part of the tax bill. It'll definitely speed up paying off the company credit card.
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Re: House Bill to Lower Proof Gallon Tax (FET).

Postby Single Malt Yinzer » Wed Dec 20, 2017 5:21 pm

So was the final version 2 years or permanent?
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Re: House Bill to Lower Proof Gallon Tax (FET).

Postby Fraser » Thu Dec 21, 2017 6:26 am

Single Malt Yinzer wrote:So was the final version 2 years or permanent?


No. I think it's just a 2 year tax holiday. Without really getting into politics, I feel like there should have been enough room to make this permanent with everything else they gave away. But I will definitely enjoy the next 2 years.
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