Despite speculation that the Craft Beverage Modernization and Tax Reform Act (CBMA) would expire prior to next year, CBMA was included in a tax extenders package that was approved by Congress yesterday, December 17th.

Within the new extended package, CBMA will remain in effect through all of 2020.

For more information on CBMA and how to take advantage of the reduced tax rate or tax credits provided to importers of distilled spirits, beer or wine, click HERE.

Shapiro will continue to monitor the situation and provide updates as they become available.