Current law allows qualified brewers a tax credit of $4.60 per barrel, up to 25,000 barrels sold in a fiscal year. A “qualified brewer” is a brewer, regardless of location, that manufactures less than 100,000 barrels of fermented malt beverage in the calendar year immediately preceding the year for which the credit is claimed. This bill modifies the definition of “qualified brewer” by increasing the threshold for the number of barrels of fermented malt beverages from “less than 100,000” to “less than 250,000.”
This bill is effective for determinations based on calendar year 2011 and thereafter.
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