BA & BI Ask for State Excise Tax Deferral
Jim McGreevy, president and CEO of the Beer Institute, and Bob Pease, president and CEO of the Brewers Association, have sent a letter urging state legislators to defer the collection of state excise taxes on beer.
The federal Alcohol and Tobacco Tax and Trade Bureau (TTB) has already granted a postponement of federal excise tax payments for beverage alcohol for three months. Tax payments that were due between March 1st and July 1st of 2020 are to be paid after the COVID-19 crisis subsides.
“By deferring excise tax payments, state legislators can provide much-needed tax relief and economic stability to the beer industry,” Pease and McGreevy said in a statement today following the release of the letter to state lawmakers. “This delay would ensure members of the industry would be better able to pay their bills, avoid lay-offs and ultimately stay in business.”
The full letter can be seen here.
