As we wrap up the final days of 2019 I’m glad to share a good news update with all US wineries. The craft beverage modernization act has officially been extended! This is good news for all US wineries (& for breweries and distilled spirits businesses too) We had been holding our breath that this would get done, since before congress took action last week the act had an expiration date of December 31st 2019.
So now that we can breathe a sigh of relief what does this mean for US wineries and their reporting? That is the topic of my next video, specifically about what it means for their TTB 5120.17 and Excise tax reports.
Wineries that store their bottled wines offsite at a warehouse (fulfillment) site are getting another gift too which will definitely turn their 2020 into a happy one.
See my video for the details: