SALEM, Ore. – Local craft breweries are getting a boost. It’s coming in the form of a tax break provided by the Trump administration’s new plan.
The Craft Beverage Modernization and Tax Reform Act is a provision of the plan.
It cuts the Federal Excise Tax in half for craft brewers from $7 to $3.50 per barrel.
One local company says the break could help startup breweries the most. Cameron Litton is the general manager of Walkabout Brewing Company. He said, “When you’re just getting started and you’re not fully known yet that allows you to possibly not go out of business if you had a bad couple of businesses because you are paying less in taxes.”
The act received bipartisan support and was sponsored by Oregon Senator Ron Wyden.
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