TTB Provides Guidance on Wine Tax Credits and Wine Production
On December 22, 2017, the President signed into law the Tax Cuts and Jobs Act (Public Law 115-97 -“The Act”), which makes extensive changes to the Internal Revenue Code of 1986 (IRC), including provisions related to alcohol that are administered by the Alcohol and Tobacco Tax and Trade Bureau (TTB). Those changes were effective January 1, 2018.
TTB has updated their FAQs to include guidance on the transfer of wine credits and what constitutes production. To read more about it, click here.
