This is a blog that will take you through the Rum lifestyles of a fine group of people that enjoy the fun and pleasure of fine rums. We will travel to distilleries, partys, and Rum Events to bring you the Rumstyles of all those we come in contact with.
Friday, May 29, 2015
Big and Small US Distillers Hail New Tax Bill
Members of the US spirits industry have
hailed the introduction of a new bill that would significantly cut tax for both
large and small distillers.
Discus and the ACSA successfully lobbied for
the introduction of a new bill that would significantly cut spirits tax in the
US.House representatives Todd Young
and John Yarmuth have put forward a new bipartisan bill, titled Distillery
Innovation and Excise Tax Reform Act of 2015.If approved, the legislation will see the current tax rate of US$13.50
per proof gallon to US$2.70 per proof gallon on the first 100,000 gallons for
all distillers, regardless of size. After the 100,000-gallon threshold has been
passed, the bill sets a rate at US$9.00 per proof gallon.
The legislation has been supported by both the
Distilled Spirits Council of the US (Discus) and the American Craft Spirits
Association (ACSA), both of which also claim the bill should apply to imported
and domestic spirits.“It is
significant that the distillers of all sizes are united behind this important
hospitality industry legislation,” said Distilled Spirits CEO Peter Cressy, who
will retire from the role later this year.“We thank the sponsors for recognizing the economic impact passage of
this bill will have for our industry.”
This bill will have a wide reaching effect on not only the spirit industry, but the Service and tourism industries as well this can have a real trickle down effect that will benefit all who are a part of the spirits industry.