If you are a regular reader of my blogs and/or viewer of videos on my Youtube channel you’ve seen the info I’ve been sharing about all the changes impacting US wineries specific to their TTB compliance which went into effect on January 1st of 2018.
There was one area that had not been made entirely clear that I’d had my concerns about, and then sure enough last Friday those concerns were confirmed via the TTB’s weekly newsletter which I’m subscribed to.
The area I was concerned for US wineries was specific to their TTB excise tax filings. How would the way they had been used to filing/paying those excise taxes be impacted? What wines would be eligible for deducting the new tax credits?
We got our answers to both the above in the latest two questions answered in the Q&A page the TTB has created on their website, the Craft Beverage Modernization and Tax Reform page.
Those two most recent answers are not good news for a lot of US wineries. Or at least they will impact the procedures they had been accustomed to following for paying their TTB excise taxes.
See the latest video here where I explain the two key details all US wineries need to be aware of NOW:
TTB Excise tax updates – What US wineries need to know NOW