Salem, Ore.- Local craft breweries are getting boost in the form of a tax break provided by the president’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 dollars to $3.50 per barrel.
One local company says the break could help start-up breweries the most.
“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 months because you are paying less in taxes,” Cameron Litton, general manger of Walkabout Brewing Co. said.”
The act received bi-partisan support and was sponsored by Oregon Sen. Ron Wyden.
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