The U.S. Treasury Department’s Alcohol and Tobacco Tax and Trade Bureau (TTB) issued a release noting that the temporary reduced tax rates and tax credits originally made available by the Craft Beverage Modernization Act (CBMA) provisions of the 2017 tax law (Pub. L. No. 115-97), the law that is commonly referred to as the “Tax Cuts and Jobs Act” (TCJA), are now permanent.
As noted in the TTB release, the Consolidated Appropriations Act, 2021 (enacted December 27, 2020) made permanent most CBMA provisions of the TCJA, including:
The legislation also provides new measures, including:
For more information, contact a tax professional with KPMG’s Excise Tax Practice group:
Taylor Cortright | +1 (202) 533 6188 | firstname.lastname@example.org
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