The new tax reform bill will affect your brewery in a good way. The Tax Cuts and Jobs Act included the Craft Beer Modernization and Tax Reform Act (CBMTRA), which brings relief to breweries on several levels. The first and most immediate relief is financial: a reduction in federal excise taxes.
On December 4th, 2015, the United States Congress passed the Fixing America’s Surface Transportation (FAST) Act. Soon after, the legislation was signed into law by President Barack Obama. As is the case with many large transportation bills, this bill contained provisions that affected many unrelated areas of law.
Selling a small business is complicated. There are many different things that you will need to consider in order to ensure that your legal rights and financial interests are adequately protected. Depending on the circumstances surrounding your specific small business, there is a chance that you could face a large tax bill as a result of the sale.