{"id":19445,"date":"2016-06-16T10:48:30","date_gmt":"2016-06-16T14:48:30","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2016\/06\/new-state-beer-production-credit-expanded-to-those-in-the-wine-spirit-cider-industries.html"},"modified":"2017-11-08T11:01:44","modified_gmt":"2017-11-08T16:01:44","slug":"new-state-beer-production-credit-expanded-to-those-in-the-wine-spirit-cider-industries","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2016\/06\/new-state-beer-production-credit-expanded-to-those-in-the-wine-spirit-cider-industries\/","title":{"rendered":"New State Beer Production Credit Expanded To Those In The Wine, Spirit, Cider Industries"},"content":{"rendered":"
\n
\n\"nys\n<\/div>\n
\nThese are brewing vats at Argyle Brewing Co. in Greenwich, one of the many craft breweries that have been cropping up in the Glens Falls, Lake George and Saratoga regions.<\/p>\n

Courtesy Argyle Brewing Co.\n<\/p><\/div>\n<\/div>\n

A beer production credit in New York state is being expanded to include wine, spirits, and cider industries.<\/p>\n

The credit, now referred to by the state as the Alcohol Production Credit, is expected to save wineries, distillers and cideries an additional $4 million over the next two years, allowing them to reinvest in their businesses, state officials said.<\/p>\n

“New York is the epicenter of a burgeoning craft beverage industry and this administration has worked hard to cut red tape and lower costs to help encourage further growth,” Gov. Andrew Cuomo said. “These actions continue our efforts and will help wineries, cideries and distillers in every corner of the state reinvest in their businesses and create jobs and economic activity.”<\/p>\n

The craft brewery industry has grown significantly in the Saratoga and Glens Falls regions.<\/p>\n

The credit is available annually to craft beverage businesses producing 60 million gallons or less of beer or cider, 20 million gallons or less of wine, and 800,000 gallons or less of liquor in New York state. The expansion is effective for the 2016 tax year.
\nIt was included in the 2016-17 Enacted State Budget, and builds on the Beer Production Credit, which was launched in 2012. To date, the Beer Production Tax Credit has saved New York’s breweries $11 million, according to state officials.<\/p>\n

State Commissioner of Taxation and Finance Jerry Boone said expanding the tax credit provides the craft beverage industry “with yet more support for their beer, cider, wine, and spirits production, aiding in their commercial success. These brewers, vintners and distillers will now have more money in their pockets to grow their operations and continue to provide the artisanal beverages that their consumers have come to enjoy.”<\/p>\n

State Agriculture Commissioner Richard Ball said the craft beverage industry is thriving across New York and the expansion of the tax credit “is yet another way we are working to make doing business here in New York easier. As our wineries, breweries, cideries and distilleries grow, they increase their use of New York ingredients, helping to boost our agricultural community.”<\/p>\n

In addition to the production credit, the previous sales tax exemption for tastings at breweries, cideries, wineries and distilleries is expanded to include the alcoholic beverage tax that the producers would owe. Officials said this provision, which is effective immediately, was also included in the 2016-17 state budget. If a brewery hosts tastings at its facility where the craft beer that it produces is also offered for sale, the brewery would not owe any taxes on the beer served at the tastings, as well as the bottles, caps, and labels used to package the beer.<\/p>\n

Through aggressive reform of antiquated laws, new marketing efforts and incentives, and reduction of red tape, the state has seen the industry grow 169 percent statewide, since 2011. State officials said, small craft manufacturers of beer and spirits have saved $1.8 million in brand label registration fees since 2013.<\/p>\n

New York State Distillers Guild President Brian McKenzie said, “From the elimination of brand label registration fees to the elimination of duplicative licenses for farm distilleries, New York state has made great strides in cutting costs and red tape for the distilling industry. The expanded production tax credit will provide an additional boost, helping the industry continue to grow.”<\/p>\n","protected":false},"excerpt":{"rendered":"

These are brewing vats at Argyle Brewing Co. in Greenwich, one of the many craft breweries that have been cropping up in the Glens Falls, Lake George and Saratoga regions. Courtesy Argyle Brewing Co. 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