Remember when we told you about that harsh ruling imposed on New York State brewers back in April? The one that lifted a long-time tax exemption on state-made, state-sold brews?
Well, due to tireless efforts by certain NY breweries teamed with beer-backing politicians, NY brewers can pick their heads back up. The plan is to replace the former state exemption of 12 cents-per-gallon and the New York City exemption of 14 cents-per-gallon with an equivalent tax credit.
Image courtesy of Brew York New York
Gov. Andrew Cuomo and the State Legislature view this prospering industry as an investment with serious return. The Wall Street Journal quoted Cuomo on Wednesday as saying, “This legislation will give our state’s growing craft beer industry the tools needed to create jobs, promote agriculture, and encourage environmentally friendly economic development across New York state.”
The bills will see a vote on June 21, and state Legislators are confident they will pass with little objection. In celebration, we suggest you all have a New York craft brew this weekend!
[techtags:New York, Craft Beer, NY Brewers, Tax Ruling]