WWTV: Small Distilleries React To Proposed Tax Cut Legislation
By Brittany Wright
A new proposed law could be a big help to small craft distilleries.
Last week, Senator Gary Peters introduced the distillery excise tax reform.
If passed, it would reduce federal taxes for distilleries by more than $10 per proof gallon on the first 100,000 gallons they produce per year.
"It will help us grow and help us put away more product," said Jared Rapp, Traverse City Whiskey Company Co-Owner.
That's all any business wants to do, but small distilleries like the Traverse City Whiskey Company say high taxes are holding them back.
"Our products are very expensive to make and it takes a very long time before we can actually sell them," said Rapp. "If we have more cash available that means more equipment, employees and inventory."
That's why the Grand Traverse Distillery is hoping the Distillery Excise Tax Reform passes.
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